"Snap is the latest tech company hoping small, ultra-efficient teams can help it get its groove back. CEO Evan Spiegel said in his annual letter to employees that the social media company will restructure internally to create five to seven groups of 10 to 15 people, or "squads," to operate as "startups" inside Snap. This move follows a challenging second quarter for the brand, in which ad revenue "stumbled," as Spiegel put it in the letter."
"He compared the company's position to that of a middle child - bigger than its smaller rivals but dwarfed by the big guys. "Squeezed between the tech giants and smaller competitors, on the verge of greatness, we find ourselves in a crucible moment," Spiegel wrote. At Snap, the teams centered on the company's "big, new bets" will include weekly demo days, efforts organized in 90-day cycles, and "a culture of fast failure," Spiegel said in the letter."
Snap will reorganize into five to seven small squads of 10 to 15 people to operate as internal startups and drive growth after a weak ad-revenue quarter. Each squad will focus on major new initiatives, run work in 90-day cycles, hold weekly demo days, and embrace a culture that tolerates rapid failure. Squads will have single-threaded leaders who are accountable for outcomes. The restructuring aims to create nimble, ultra-efficient teams that can compete between large tech giants and smaller rivals as competitors also adopt similar startup-mode approaches.
Read at Business Insider
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