5/10/2023 0 Comments Evan spiegel facebookHow do they sleep at night?” she said at the time.ĭespite the threat Facebook poses to his company, Spiegel was far more nonchalant than Kerr. Spiegel's fiancee, Miranda Kerr, discussed the cloning in an interview with the Times of London in February. Spiegel's comments, delivered in response to an analyst question about whether he fears Facebook, marked the first time he publicly addressed Facebook's brazen product copies. On Wednesday, Snap reported disappointing first-quarter earnings results, and its stock plunged nearly 25% in after-hours trading. Facebook's copying of Snapchat's Stories format into four of its products helped impede Snap's revenue and user growth just as it hit the public markets. In Spiegel's mind, Facebook may be the Yahoo to his Google, but the analogy doesn't fully hold up. "At the end of the day, just because Yahoo has a search box, it doesn't mean they're Google," he said, referring to Facebook's creating copies of Snapchat's features for Instagram, Messenger, WhatsApp, and the Facebook app. CEO Evan Spiegel finally addressed Facebook's relentless cloning of Snapchat during his company's quarterly earnings call Wednesday - and he didn't hold back.
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