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Activist Investor Irenic Builds Stake in Snap, Calls for Changes

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By Liana Baker

March 31, 2026 at 2:51 PM UTC

Updated on

March 31, 2026 at 8:11 PM UTC

Activist investor Irenic Capital Management has built a position in social media company Snap Inc. and is pushing for changes to improve financial and operating performance.

The investor sent a letter to Snap Chief Executive Officer and co-founder Evan Spiegel, outlining its views it hopes could boost the company’s shares to more than $26 each.