Snap will concentrate on expanding and diversifying its underperforming advertising business with a focus on augmented reality, CEO Evan Spiegel informed employees in a note on Tuesday. The announcement comes amid a challenging period for the Snapchat owner, as it contends with major social media players such as Instagram parent Meta Platforms and Bytedance's TikTok for advertising revenue. "You may be wondering why, with all of the progress we've made in our business over the last year, our

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