Activist investor Randian Capital will host a town hall for Snap Inc. shareholders on April 6, 2026. This event follows an April 1 open letter demanding a major strategic review of the company.
Randian Capital is urging Snap to spin off its Spectacles hardware division. The firm also calls for a thorough cost structure review and the use of AI to increase efficiency. Additionally, Randian seeks an overhaul of Snap’s dual-class share structure.
Snap’s stock price has declined more than 80% since its initial public offering. Randian Capital remains critical of the company's current capital allocation strategy. The town hall aims to build shareholder momentum for these proposals.
This pressure follows a similar campaign by Irenic Capital launched in late March. Irenic also requested cost reductions and a focus on AI-driven ad monetization. Both firms have identified the cash-burning Spectacles division as a primary target for divestiture.