Did Snapchat CEO's comment on India being a poor country?
I would like to get the facts straight over here before we get more offended reading the headlines of all the major Indian bulletins. Lets breakdown this incident: This is an allegation. There are no evidence yet to prove this yet. The allegation is made by an employee of Snapchat, Anthony Pompliano, who is currently engaged in lawsuit against Snapchat, accusing the company of misleading the investors by providing inflated statistics about user data. Snapchat unredacted lawsuit by gmaddaus on Scribd According to the allegation, the statement was told in answer to a private company meeting, discussing the further expansion plan. India was ranked 126th in the world richest country. Total countries are 189. The ranking was created by adjusting GDP per capita to relative purchasing power. Snapchat is a business. It earns money from advertising. The digital advertisement market of India is close to Rs 7000 crore . Which roughly comes to $ 1 billion which is very low