Evan Spiegel spends most of his time during board meetings on Snapchat

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  • According to a report by The Information, Snap CEOEvan Spiegel spends much of his time during board meetings tied to his phone and messaging people on Snapchat.
  • Spiegel was often “dismissive” toward Mitch Lasky, a Benchmark partner who stepped down from Snap’s board in August, according to The Information.
  • Lasky pushed Spiegel to consider Wall Street’s expectations, but the 28-year-old CEO considered the feedback shortsighted, the report said.
  • The Information quoted one person as saying Spiegel’s attitude toward Wall Street was “f— the markets.”

Evan Spiegel may need to learn how to disconnect.

According to a report by The Information published Monday, Snap’s CEO spends much of his time during board meetings tied to his phone and messaging people on Snapchat.

When not glued to his screen, Spiegel was often “dismissive” toward Mitch Lasky, a Benchmark partner who stepped down from Snap’s board in August, according to the report, which cited several people familiar with the discussions.

The report said Lasky pushed Spiegel to consider Wall Street’s expectations for user growth and profitability, but the 28-year-old CEO considered the feedback shortsighted. Instead, Spiegel’s focus was on the company’s “long-term strategy,” The Information said.

The news outlet quoted one person as saying Spiegel’s attitude toward Wall Street was “f— the markets.”

On Monday, Snap’s stock was trading at about $US6, well below its $US17 price in its initial public offering in March 2017. Snap has also lost its vice president of content, Nick Bell, and its chief strategy officer, Imran Khan, in the past two months.


Read more:
Snapchat’s parent company has lost its second top exec in two months, as its head of original content departs

Snap did not immediately respond to Business Insider’s request for comment.

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