New Delhi: While Indians are increasingly downloading Snapchat on their smartphones, the company’s CEO feels India is “too poor” to seriously consider expanding its user base.
According to a report by Variety , the disparaging comment was made by the CEO of Snapchat, Evan Spiegel, allegedly during a meeting to discuss the growth of the app’s user base in 2015.
When an employee raised concern about the app’s slow growth in a market like India which has a growing mobile penetration, Spiegel cut the employee mid-sentence saying, “This app is only for rich people,” Spiegel said, Variety quoted the employee’s revelation. “I don’t want to expand into poor countries like India and Spain.”
India is a rapidly growing market with Internet penetration expected to grow 2.5 times by 2020, with mobile leading the race. It is these numbers which are driving tech giants like Amazon and Uber and investors like Masayoshi Son and Jack Ma to invest billions of dollars in the country.