Snap CEO on Facebook threat: ‘Just because Yahoo has a search box, it doesn’t mean they’re Google’

Author: Jen Wieczner / Source: VentureBeat On Snap’s first earnings call as a public company Wednesday, Wall Street had a particularly bu

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On Snap’s first earnings call as a public company Wednesday, Wall Street had a particularly burning question for Snapchat founder Evan Spiegel: “Does Facebook scare you?” asked Richard Greenfield, an analyst at BTIG.

Following an earnings report that came in below analysts’ expectations on sales, profit and user growth — prompting Snap stock to plummet nearly 25% after-hours towards its IPO price of $17 — 26-year-old CEO Spiegel laughed at the question.

Greenfield had prefaced his query by noting that Facebook CEO Mark Zuckerberg had announced a new camera feature with augmented reality last month, positioning the social media company in direct competition with Snapchat, which describes itself as a camera company.

“At the…

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