Snap

Quick read

Snap Inc. is a camera and social media company founded in 2012, headquartered in Santa Monica, CA. It operates Snapchat, Bitmoji, and Spectacles, reaching 75% of 13–34 year-olds across 25 countries. The company is betting its next chapter on AR smartglasses (Specs), due to ship in 2026, while simultaneously cutting up to 16% of its workforce.

Key facts

Founded

May 2012

Founders

Evan Spiegel, Bobby Murphy

Employees

5,261

Sectors

consumer, saas, hardware

Website

snap.com

Mission

Snap believes the camera is the greatest opportunity to improve how people live and communicate — empowering expression, real-time sharing, and augmented reality experiences.

Recent activity

• Jun 2026product
  Snap CEO Evan Spiegel unveiled consumer AR glasses called Specs at AWE 2026 on June 16, priced at $2,195. Preorders opened with a $200 refundable deposit; shipping is planned for fall 2026 in the U.S., U.K., and France. Snap shares fell roughly 4% intraday on the announcement. reuters.com
• Jun 2026press
  Spiegel pushed back against activist investor Irenic, which has argued the Specs hardware unit — where Snap has already spent more than $3.5 billion — should be separately funded or spun off. Spiegel said Snap will stay independent and hinted at future partnership announcements. reuters.com
• Jun 2026press
  Evan Spiegel and Miranda Kerr donated millions to Undue Medical Debt, erasing $550 million in medical debt for more than 261,000 Californians. Snap and co-founder Bobby Murphy separately committed $10 million to the Department of Angels for LA wildfire recovery. latimes.com
• May 2026press
  Snap reported Q1 2026 results on May 6: revenue of $1,529 million, up 12% year-over-year. Operating cash flow was $327 million, free cash flow $286 million, Adjusted EBITDA $233 million, and net loss $89 million. investor.snap.com
• Jan 2026investment
  Snap carved out its Specs hardware operation into a standalone subsidiary called Specs Inc. in January 2026, a structure that could allow the unit to raise outside capital independently. glassalmanac.com
• Apr 2026leadership
  Snap laid off approximately 1,000 employees — 16% of its full-time workforce — and closed more than 300 open roles. CEO Evan Spiegel cited AI tools reducing repetitive work as part of the rationale. The cuts are expected to reduce Snap's annualized cost base by more than $500 million by H2 2026. newsroom.snap.com
• Apr 2026press
  Snap reported Q1 2026 revenue of $1.529 billion, up 12% year-over-year, beating analyst forecasts of $1.52 billion. Net loss was $89 million; Adjusted EBITDA hit $233 million. Free cash flow came in at $286 million. Stock rose 1.96% in after-hours trading to $6.23. investor.snap.com
• Apr 2026press
  Pomerantz Law Firm announced it is investigating claims on behalf of Snap investors, per a PR Newswire release dated April 30, 2026. tracxn.com
• Apr 2026product
  Snapchat launched sponsored AI chatbots for in-stream promotions, opening a new ad format for brands on the platform. tracxn.com
• Mar–Apr 2026product
  Perplexity AI signed a deal to integrate its answer engine into Snapchat, paying Snap $400 million over one year. The feature targets Snapchat's nearly 1 billion users with conversational search inside the app. web.swipeinsight.app
• Mar 2026press
  Dolby sued Snapchat over use of the AV1 codec, challenging claims that the codec is royalty-free. tracxn.com
• Jun 2025product
  Snap confirmed consumer AR glasses — branded 'Specs' — will launch publicly in 2026, moving beyond developer demos. Specs Inc. is a wholly-owned Snap subsidiary dedicated to the product line, which is partnering with Qualcomm's Snapdragon XR platform. glassalmanac.com

Key people

Named individuals at the firm. We don't expose direct email or phone — use their LinkedIn for outreach.

• Bobby Murphy · Co-Founder / CTO
• Rebecca Morrow · Employee (since Sep 2019)
• Michael Lynton · Chairman (since Sep 2016)
• Evan Spiegel · Co-Founder / CEO
  Brief →
• Derek Andersen · CFO
• Jerry Hunter · COO

Sources

• Snap Inc. official website
• Snap - Tracxn Company Profile 2026
• WARN Notice: Snap Palo Alto layoffs Apr 2026
• Alex Heath: Snap layoffs & Specs update
• Evan Spiegel AWE 2026 keynote announcement
• Snap Lens Fest 2025 recap
• https://newsroom.snap.com/organizational-changes-at-snap
• https://investor.snap.com/news/news-details/2026/Snap-Inc--Announces-First-Quarter-2026-Financial-Results/default.aspx
• https://web.swipeinsight.app/topics/snapchat
• https://glassalmanac.com/snap-reveals-specs-launch-date-2026-why-it-forces-a-road-map-shift/
• https://www.reuters.com/business/finance/snap-ceo-spiegel-defends-specs-long-term-bet-pushes-back-against-activist-2026-06-16/
• https://www.latimes.com/business/story/2026-06-25/snaps-evan-spiegel-miranda-kerr-help-erase-550-million-in-medical-debt-for-californians
• https://glassalmanac.com/snap-reveals-2195-specs-in-2026-why-buyers-should-care-today/

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