Snap Inc. reports slow user growth, SpaceX considering sending two Dragon capsules to Mars in 2020, and Jordan Levin named CEO of AwesomenessTV.
Snap Inc. Reports Slow User Growth, Shares Drop More Than 25 Percent
Snap Inc., parent company of Snapchat, reported a net loss of $2.2 billion (-$2.31 a share) during its first quarter as a public company, stemming mostly from stock-based compensation issued to employees for its initial public offering in March, reports the Business Journal. That disclosure and news that Snapchat’s daily active users increased by just 5 percent in the first quarter to 166 million caused the Venice company’s share price to fall more than 25 percent in after-hours trading to $17.23.
SpaceX Considering Sending Two Dragon Capsules to Mars in 2020
SpaceX’s planned Dragon capsule mission to Mars in 2018 won’t happen due to technology development delays, but the company is doubling down on the mission in 2020 by considering sending two Dragon capsules, reports Ars Technica. Musk aims to hedge his bets with two Mars landings. He also aims to learn from the first attempt to use experimental supersonic retropropulsion in the thin Martian atmosphere to slow the vehicle’s descent.
Jordan Levin Named CEO of AwesomenessTV
Jordan Levin, a TV veteran from WB Network, was named chief executive of AwesomenessTV, reports Variety. Levin will work alongside Awesomeness President Brett Bouttier in directing the company’s production of short-form and long-form content aimed at young audiences.
Send tips on L.A. tech companies and startups to reporter Garrett Reim via [email protected]. Follow @garrettreim on Twitter for the latest in L.A. tech news.
