Snap’s quarterly earnings report disappoints, pop star and entrepreneur will.i.am’s I.am+ raises $117 million and digital advertiser H Code Media partners with online health care portal Webconsultas.
Snap Inc. released its third quarter financial report Tuesday, missing revenue expectations and adding just 4.5 million users, TechCrunch reports. Snap earned $207.9 million in revenue compared to expectations of $237 million in revenue. The 178 million total daily users equates to a 2.9 percent quarter-over-quarter user growth rate, the company’s lowest ever, and much slower than the 4.2 percent gain in the second quarter and the 5 percent increase in quarter one.
Former Black Eyed Peas member and entrepreneur will.i.am’s company I.am+ raised $117 million in venture funding, Reuters reports. The company, which began as a consumer electronics outfit, is pivoting to the corporate computing market with plans to offer an artificial intelligence-based voice assistant product for customer service use.
Digital advertising outfit H Code Media, which focuses on the Latino market, said Tuesday it had secured an partnership deal with online health care portal Webconsultas, SoCal Tech reports. H Code will have exclusive rights to represent 100 percent of Webconsultas's digital display inventory, rich media, video, and custom content solutions in the US market, H Code said.