Snap drops after users discover the app's map labeled New York City as 'Jewtropolis' (SNAP)
- Snap is trading at its lowest level in three months.
- Snapchat users discovered Thursday morning that the app’s map labeled New York City as “Jewtropolis.”
- Snap uses maps from its partner, Mapbox.
- Watch Snap trade in real-time here.
Snap dropped more than 2% Thursday after its users discovered the app’s map labeled New York City as “Jewtropolis.” Shares touched an intraday low of $10.88 — just $0.38 above the record low set on May 17.
Snapchat’s maps come from third-party mapping software Mapbox, which also supplies mapping information to other apps such as StreetEasy and Citi Bike.
Mapbox confirmed that it was an act of human vandalism, and the matter was resolved shortly before 9 a.m. ET.
“This is now 100 percent fixed and should have never happened. It’s disgusting,”Mapbox CEO Eric Gundersen said, adding that his company was still trying to figure out how the change was able to slip through the cracks unnoticed, according to Tech Crunch.
Snap shares have been under pressure since the company’s second-quarter earnings showed the first decline in users. They are down 27% this year.
Read the full article from it’s original source: http://uk.businessinsider.com/snap-stock-price-apps-map-labeled-nyc-as-jewtropolis-2018-8