While most other tech giants consider India as their favourites, Snapchat CEO, Evan Spiegel has labelled India as “too poor” for his company’s expansion plans.
In a staff meeting about the company’s expansion in 2015, when an employee raised his concerns about the app’s slow growth rate in India, the CEO cut him off mid-sentence saying, “the app is only for rich people… I dont want to expand in poor countries like India and Spain.”
Employee Anthony Pompliano who was hired from Facebook to increase Snapchat’s reach, has been fired from the company and is being sued by the tech startup. He has been accused of falsely accusing the company of providing inflated statistics to investors.
According to a US based magazine Variety, the company made attempts to redact the story after it was made public earlier this month.
Giants like Amazon, Uber and Jack Ma have invested billions in the Indian market. With an expected Indian internet penetration growth to be 2.5 times by 2020, a population of 1.5 billion has an undeniably huge potential.
Granted that taking offence to such a statement is only a waste of time, but as most experts would believe, ignoring such possibilities could only mean a loss to the company.