Snap departures concern investors; Riot Games redesigns European competition; Hulu costs Disney $580 million.
According to the Los Angeles Times’ latest report on Snap Inc., investors and analysts are increasingly concerned about the number of employee departures at Snap. On Jan. 18, Snap Head of Global Security Francis Racioppi and human resources chief Jason Halbert were fired after Racioppi’s “inappropriate relationship” with an outside contractor was exposed. Analysts have begun to speculate that Chief Executive and controlling shareholder Evan Spiegel is holding the reins too tightly, and “needs help” to save the struggling Snap ...although it’s unclear where that help may come from.
Sawtelle-based Riot Games Inc. recently embarked on a redesign of its popular European “League of Legends” e-sports tournament (and Berlin arena) with help from San Diego-headquartered design agency DesignStudio, which counts tech firms Evernote Corp., Twitter Inc., and Airbnb Inc. among its clients. In addition to the revamped image, Engadget reports the European tournament will also include a franchise model similar to the National Football League, in the hopes of increasing participating organizations’ investments in the sport.
Burbank-headquartered Walt Disney Co., which owns a 30 percent stake in Santa Monica-based streaming firm Hulu, is considering increasing that investment after Hulu’s rough 2018. According to TechCrunch, Hulu lost $580 million last fiscal year, a potentially dangerous sign for Disney, which will own 60 percent of Hulu once its buyout of 21st Century Fox Corp. is completed by third quarter 2019. Disney plans to put more funds towards Hulu’s original content and also expand the service internationally.
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