Snap Inc.’s slow second-quarter growth disappoints Wall Street, Los Angeles Rams Owner Stan Kroenke buys e-sports team and DUI-test maker Ocular Data Systems funded by Pasadena Angels.
The price of Snap Inc. shares fell as much as 15 percent to $11.69 a share in after-hours trading on Thursday, reflecting investor disappointment in Snapchat’s parent company following a second-quarter earnings report showed slow user and revenue growth, reports the Business Journal. While the Venice company’s revenue rose 21 percent to $182 million for the quarter ended June 30, that was below the $186 million expected by a Thomson Reuters consensus estimate.
Los Angeles Rams owner Stan Kroenke and his son, Josh Kroenke, have purchased a franchise for a local e-sports team, according to Activision Blizzard’s Overwatch League, a professional video gaming competition, reports the Business Journal. Overwatch is a multiplayer online first-person shooter video game that is played on Windows computers, PlayStation 4 and Xbox One.
Ocular Data Systems, maker of a digital intoxication test, raised an undisclosed amount of funding from Pasadena Angeles, reports Finsmes. Ocular Data Systems manufactures Dax, a handheld camera that aids law enforcement in manually testing and recording eye movements and responses of people suspected to be under the influence of drugs.