'Innovators win': Snap CEO deflects Facebook threat [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
'Innovators win': Snap CEO deflects Facebook threat Snap Inc. Chief Executive Officer Evan Spiegel brushed off Facebook Inc.’s frequent mimicking of Snapchat’s app features, saying “innovators win in the long run.” Speaking in an interview on CNBC from the Cannes Lions International Festival of Creativity in France, Spiegel said the company remains focused on the camera and stressed that Snap is a technology company, rather than a media or social-networking service. The CEO said Snapchat’s "friend graph" will help keep Facebook at bay. That lets users add only the friends they want, making users feel more comfortable sharing content. Facebook has rolled out several products recently that imitate those originally found on Snapchat, such as photo and video Stories that disappear after 24 hours. But at a time when Facebook has come under fire for how much personal data it collects on its users and what it does with it, Snap says its model helps it stand out. “We believe you need to have
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