On Tuesday, Snap, the parent company of Snapchat, said its planning to redesign the messaging application to make it easier to use after facing several consecutive quarters of poor user growth.
Evan Spiegel, Snap's CEO said
"one thing that we have heard over the years is that Snapchat is difficult to understand or hard to use, and our team has been working on responding to this feedback. We don't yet know how the behavior of our community will change when they begin to use our updated application," he said.
No timetable was provided for the redesign but according to him, the goal is to make the app easier to discover content on the social network and also to create more opportunities for content creators to make money.
The announcement to redesign the app follows yet another disappointing quarter for the company. Snapchat added just 4.5 million new daily active users in the third quarter, bringing its total audience to 178 million daily users while Instagram Stories, a competing brand, recently hit 300 million daily users.
The company's losses more than tripled from the previous year to $443 million in the third quarter, while its sales fell short of Wall Street estimates. Even Snap's first foray into hardware appears to be a failure. The company took a nearly $40 million writedown for excess inventory of Spectacles, its smart glasses.
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