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Snapchat isn’t closing shop. A viral article saying as much is a fake news story created and published on satirical news sites.
We first saw the claim on breakingnews365.net under the headline "Snapchat is shutting down!" on Nov. 8, 2017. The post was sparse and contained a single grammatically depressing sentence.
"Snapchat will be shutting down tommrow for the U.K. , and will shut down today for the U.s , such a shame"
Snopes had earlier traced the claim to Channel45news.com, another prank news site that proudly sports a "Create A Prank And Trick All Your Friends!" homepage headline and a "You Got Owned" meme-style header icon.
Due to the loss of revenue from the unsold units, lowered shares and the dip in daily activity, Snap Inc CEO Evan Spiegel announced his plan to redesign the app in the wake of this fiscal low point.
Although Snapchat has definitely been facing some financial woes, they have no plan of shutting down in 2017 or at any point in the near future.
We rate this statement Pants on Fire!
Breakingnews365.net, "Snapchat is shutting down!", accessed Nov. 8, 2017
Reuters, "Dow edges up to record high, financials dips", Nov. 7, 2017
Snopes, "Is Snapchat Shutting Down by the End of 2017?", Nov. 6, 2017
Snapchat Support Twitter post, Nov. 6, 2017
Channel45news.com, accessed Nov. 9, 2017
The Verge, "Snap lost nearly $40 million on unsold Spectacles", Nov. 7, 2017
Spectacles.com, accessed Nov. 9, 2017
Reuters, "Snapchat launchers redesign as growth disappoints Wall Street", Nov. 7, 2017
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