Snap Inc. Loses Another CFO

Snapchat logo

CBJ — Snap Inc. has announced its chief financial officer Tim Stone is leaving the company to pursue other opportunities after less than eight months on the job.

Stone is the second CFO to leave the company within the last 12 months.  He joined Snap Inc. after spending more than two decades with Amazon.com.

In addition to Stone several other key top executives have left the company in recent months. That, combined with a heavily criticized redesign of the platform has pushed the value of the stock down by about 12%.

Snap Inc. is a California-based technology company founded by Evan Spiegel and Bob Murphy in 2011. It has four primary products, the most notable being Snapchat, which is a popular social media platform for teenagers on their smartphones. Pictures are taken and made available on profiles for a brief period of time before disappearing. Snapchat is a similar platform to its more popular rival Instagram.

The company also has lesser known products called Spectacles, Bitmoji and Zenly.

@CanBizJournal

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