Snap breaks into ‘startup squads’ as ad revenue stalls

Snap, the parent company of Snapchat, is undergoing a restructuring process to address its declining ad revenue. CEO Evan Spiegel has announced that the company will be organized into smaller "startup squads" of 10 to 15 people, with the goal of regaining agility and responsiveness in the face of larger competitors. The move comes as Snap struggles to maintain its relevance in the rapidly evolving social media landscape. Despite its initial success, the company has faced challenges in recent years, including slowing user growth and declining ad revenue. The new "startup squads" approach is designed to empower teams to make faster decisions and execute more efficiently. This shift in organizational structure is seen as a strategy to help Snap better adapt to market changes and stay competitive. While the details of the restructuring are still emerging, the move signals Snap's commitment to adapting to the changing industry dynamics and positioning itself for future growth.