Silicon Beach Report July 23: Revenue Rises at Snap

By Samson Amore

July 23, 2019

153

SpaceX resupplies International Space Station; WeRecover uses apps to treat addiction; Snap beats expectations in Q2

Snap Revenue Exceeds Expectations

The Santa Monica-based social media firm reported just over $388 million in revenue, up from $262 million a year ago, beating its own estimate of $360 million for the second quarter. Snap also added 13 million more users than it had in the same period last year, bringing its total daily active users to 203 million in the quarter.

WeRecover Attacks Addiction with Apps

Stax Health Inc., a search engine for addition treatment centers, is launching a mobile app. The Santa Monica startup, which does business as WeRecover, created an Android and iPhone app that helps users find treatment centers within their insurance and budgetary limitations and connects treatment providers with clients. To date, WeRecover has raised more than $5 million from investors including Santa Monica’s Struck Capital.

SpaceX Launches Again This Week

SpaceX launched its ninth resupply mission Tuesday, destined for the International Space Station with nearly 2.5 tons of scientific equipment and resources. In total, this is SpaceX’s 18th launch to the Space Station for NASA.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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