He added that he took pride in the fact that they have beaten the record of Apple’s initial year sale of 143,000 iPods. This turns out to be a big deal since the iPod was a revolutionary product from Apple which put the company on its present success streak.
Snap Inc. has beaten Apple’s record of initial year sale of 143,000 iPods
Snap rebranded themselves into a camera making company with the launch of Spectacles in February which was priced at $130. The company had seen a slow start to the quarter with sales worth a little more than $8 million. This shows that the company had sold only around 61,500 Spectacles during that quarter.
The present figure of 150,000 shows that the sales have picked up and hence the happy tone of the CEO. But he talks about the troubles he faced when he tried to sell his vision to the investors. And this shows in the fact that Snap’s shares have taken a dip of more than 34% over the course of last 6 months even though their IPO has seen some big growth.
“I think investors are fearful, and fear is a powerful motivator — they’re fearful we’ll never be profitable, or they’re fearful that competition will kill us or something like that,” Spiegel said. “But I think those are kind of normal fears for any start-up.”
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