Snapchat’s parent company shutters Web3 division amid layoffs

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Web3 is no more with Snapchat, Snap Inc. closes the dvision.

in a note on Friday that the company had made the difficult decision to reduce the size of its workforce by approximately 20%.

“Our forward-looking revenue visibility remains limited, and our current year-over-year QTD revenue growth of 8% is well below what we were expecting earlier this year.”

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This is sad bear market is making people reduce investments

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