How Meta Competed Against Snapchat and YouTube: Unsealed Documents
Meta used a spyware to access user activities on rival platforms, including Snapchat and YouTube, according to newly unsealed documents from a class action suit.
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Snap Inc., founded in 2011 by Evan Spiegel, Bobby Murphy and Reggie Brown, burst into the social media scene with the launch of Snapchat, an app famed for its ephemeral messaging and filters. Known for its innovation in augmented reality and its notorious IPO in 2017, which initially valued the company at $24 billion, Snap has faced its share of turbulence. Its struggle to compete with Instagram’s stories feature and the challenges of maintaining user growth have kept it in the headlines. Snap’s recent valuation hovers around $20 billion, reflecting its ongoing battle to solidify its place in a competitive market. Noteworthy executives like Spiegel continue to steer the company through controversies and shifting trends, while Snap remains a crucial player in the evolving social media landscape.
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