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Snapchat accused of faking growth figures

Friday 6 January 2017 | 14:33 CET | News
An ex-Snapchat employee has accused the company of faking its growth figures with a view to boosting its value in an imminent IPO, reports Forbes, citing details of a lawsuit filed with the Los Angeles County Superior Court. Anthony Pompliano, who joined Snapchat's business operations team in August 2015, alleges the company inflated key growth metrics when recruiting him from Facebook. He added that Snapchat, which renamed itself Snap in September, shared the fake growth numbers with investors including China's Alibaba Group.

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Categories: General
Companies: Snap / Snapchat
Countries: World
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