Evan Spiegel, with his wife Miranda Kerr, has been in the spotlight since Snapchat’s float, but life in the public markets is proving a struggle tommaso boddi/Getty ImagesSnap unveiled its third dismal quarterly report in succession last night as concern grew that Facebook has successfully cloned the best features of its Snapchat app. Shares in Snap plunged by 21 per cent to $11.95 in after-hours trading in New York after the company revealed that its user base had grown more slowly than expected and that it had made less money than analysts had forecast in the third quarter. The Snapchat messaging app is popular among teenagers and young adults for its disappearing photo and video messages, virtual selfie masks and short-form news articles. However, competitors, especially Facebook, have matched many of its features. Snap posted a third-quarter loss of $443 million, the same as in the second quarter and wider than the…

Source: The Times November 08, 2017 00:00 UTC