Snap, a publicly owned company headquartered in the US, founded in 2011 with approximately 7,250 employees, reported $5.9B in revenue as of 2025. The company specializes in search, social, and retail media, and provides three core products: Snapchat, a visual messaging application; Lens Studio, an augmented reality platform that powers AR across Snapchat and other services; and its AR glasses, Spectacles.
On May 2, 2026, Snap CEO Evan Spiegel stated that artificial intelligence now writes two-thirds of the company’s new code, signaling a fundamental shift in software development and predicting a move toward distribution over direct development. The company is set to report its first-quarter 2026 results on May 6, with an internal forecast projecting revenues between $1.56 billion and $1.6 billion, representing 9% to 12% year-over-year growth, excluding potential contributions from Perplexity AI. Earlier, on May 1, the company introduced AI Sponsored Snaps, an advertising tool that enables users to interact with AI bots from partnered brands. Spiegel's comments on AI's increasing role coincide with his repeated caution, articulated on April 29 during a "Lenny’s Podcast" appearance, that tech executives significantly underestimate societal pushback to artificial intelligence, predicting potential impacts on human adoption, jobs, and power bills.
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