Term Sheet — Wednesday, November 8

Nov 08, 2017 - Fortune
Board and Executive Moves-Mergers and Acquisitions-IPOs-Investments

Snap revealed some worse-than-expected earnings in the third quarter and a $40 million Spectacles flop during its earnings call on Tuesday. CEO Evan Spiegel noted that the company will redesign the app "to make it easier to use."

Last Friday, I spoke with Jeremy Liew, the man who wrote Snap's first check. Liew, a partner at Lightspeed Venture Partners, invested $485,000 in Snap in April 2012 -- an investment that returned more than $1 billion when the company went public. Below is an abbre...