Reportedly, CEO of Sony Entertainment has stepped down from his position in the company to serve as a chairman in Snapchat. For Snapchat it will be beneficial as the company needs someone who will support them to make future strategies about their overall company. During Lynton’s time in the company, Sony entertainment faced many hacking issues which also included emails of Lynton, these emails were between Lynton and the different executives of Snapchat and investors. According to those emails it was revealed publicly that Snapchat has bought few small companies and also revealed Lynton’s deep involvement in to the company and the future projects the company is planning to pursue.
Micheal Lynton has a massive experience in work as, he worked in a big company that has its hands into everything. Snapchat can utilize his experience in terms of supporting the company’s team of executives, also can utilize his connections with other people in the tech industry. Snapchat is growing day by day its popularity has taken the world. Snapchat’s audience is increasing day by day. There is nothing to doubt about that if the company can make place into good list of Wall Street Journal than this company has a strong potential to be strong public company.
So from now onward Lynton will be a guide for Snap and it is a big responsibility it self to be the chairman of this hotly app of the tech industry. It is reported that Snapchat expected to be valued of worth $20 billion when the company got public. Also the company is all set to earn revenue of $1 billion this year. Sony after losing its CEO said, that Lynton has served as a veteran for 13-years, he had led both music and entertainment group. Also Lynton will still serve in the company for an other six months to insure a smooth transition.