NEW YORK, NY / ACCESSWIRE / February 21, 2018 / Facebook's vice president has issued an apology for a tweet he made that was retweeted by the President, who aimed to prove he had nothing to do with Russian interference in the 2016 presidential election. Goldman had tweeted, "I have seen all of the Russian ads and I can say very definitively that swaying the election was *NOT* the main goal." Shares of Snap crumbled as more people sign a petition urging the company to get rid of the new redesign of its SnapChat app.

RDI Initiates Coverage on:

Facebook, Inc.
https://rdinvesting.com/news/?ticker=FB

Snap Inc.
https://rdinvesting.com/news/?ticker=SNAP

Facebook's shares closed down a modest 0.76% on about 21 million shares traded yesterday. The social media giant has been getting more heat over Russia's involvement in the 2016 election. According to the company's vice president, Rob Goldman, there are still fact that are "not well understood." Goldman had tweeted his own personal thoughts on the matter which President Trump retweeted to prove that his campaign did not have any collusion with Russian agents in the election. Goldman issued an apology that reads, "I wanted to apologize for having tweeted my own view about Russian interference without having it reviewed by anyone internally. The tweets were my own personal view and not Facebook's. I conveyed my view poorly. The Special Counsel has far more information about what happened [than] I do?so seeming to contradict his statements was a serious mistake on my part. To those of you who have reached out this weekend to offer your support, thank you. It means more than you know. And to all of you who have worked so hard over the last six months to demonstrate that we understand our responsibility to prevent abuse on Facebook?and are working hard to do better in the future?my deepest apologies."

Access RDI's Facebook, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FB

Snap's shares were destroyed in Tuesday trading, closing the day down 7.3%. It seems people are really not liking the company's redesign of its Snapchat app. A campaign against the re-design that urges the company to change the platform back to how it once was has now over 1 million signatures. According to CEO Evan Spiegel, the change will "take time for people to adjust" but the backlash is just getting strong and stronger judging by the number of signatures the Change.org petition continues to gain. In its earnings call, Spiegel had said, "Our community has benefited significantly from the changes we have made throughout 2017, and we're excited to see the impact of this hard work reflected in our Daily Active User growth. Our work during 2017 is proof that we aren't afraid to make big changes for the long-term success of our business. We redesigned the Snapchat application, transitioned our Snap Ad business to an auction model, and made changes to our team to improve productivity and collaboration." According to the company, daily active users on the Snapchat app rose 5.05% to 187 million in the last quarter, even beating estimates.

Access RDI's Snap Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SNAP

Our Actionable Research on Facebook, Inc. (NASDAQ: FB) and Snap Inc. (NYSE: SNAP) can be downloaded free of charge at Research Driven Investing.

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