Snapchat gets crushed that was the title of the Tech-crunch article. It's main claim was that Snapchat has lost nearly all of its earnings since it IPO'd earlier this year. Snapchat's shares are still worth $17 dollars each, I think that hardly counts as crushed.
The article mentions that now Snapchat has IPO'd, its obliged to share it's numbers with the stock market. Given that this has been done, and the share's haven't plummeted to the floor, we should be able to assume that it's not all doom and gloom for Snapchat.
It's fascinating to see the headline numbers for Snapchat. For instance, it's total revenue was $149 million, and then immediately under it there is a cost called Cost of revenue $163 million. It then goes on to have other costs, $800 Million for research and development, $200 Million for sales and marketing and a ridiculous $1.2 Billion for General and Administrative. The article claims that this last cost is due to some payouts around the IPO, likely RSU's. I imagine that these costs are just the costs of doing business when you are trying to chase big advertising companies like Facebook and Google. Still, I find the numbers incredible, and that the cost of revenue is larger than the revenue is the most disturbing.