Snapchat isn’t closing shop. A viral article saying as much is a fake news story created and published on satirical news sites.
We first saw the claim on breakingnews365.net under the headline “Snapchat is shutting down!” on Nov. 8, 2017. The post was sparse and contained a single grammatically depressing sentence.
“Snapchat will be shutting down tommrow for the U.K. , and will shut down today for the U.s , such a shame”
Although Snap Inc’s owner has announced that the app has seen less daily activity than expected in the third quarter of 2017, the company has made it clear that this rumor is fake news.
Snopes had earlier traced the claim to Channel45news.com, another prank news site that proudly sports a “Create A Prank And Trick All Your Friends!” homepage headline and a “You Got Owned” meme-style header icon.
Snapchat has been facing some financial issues due to $40 million worth of unsold Snapchat Spectacles, a device that allows you to record the world around you through a pair of sunglasses.
Due to the loss of revenue from the unsold units, lowered shares and the dip in daily activity, Snap Inc CEO Evan Spiegel announced his plan to redesign the app in the wake of this fiscal low point.
Although Snapchat has definitely been facing some financial woes, they have no plan of shutting down in 2017 or at any point in the near future.