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Snap is breaking itself apart and rebuilding from within. In a new annual company letter, CEO Evan Spiegel just announced the company is restructuring around small “startup squads” of 10 to 15 people to better compete against larger competitors.
The move comes as the 5,000-person company faces mounting pressure. Advertising revenue growth flatlined at 4% in the second quarter, and North American daily active users declined 2% to 98 million, a troubling sign in Snap’s most important market.
Spiegel does highlight one bright spot:…
