Breakfast Briefing, 2.3.2017: About Snapchat's losses...

Snapchat filed for its much-anticipated IPO on Thursday afternoon, but some experts are concerned its losses over the past two years make it look like another social network that has trouble turning a profit.

New this morning
A day in the life of Dotted Line Communications founder Aimee Yoon. Finsbury, Ogilvy Public Relations, and Burson-Marsteller each get part of WPP’s $600 million marketing and communications mega-account for the Walgreens Boots Alliance. A year after it was acquired by Golin, Brooklyn Brothers shakes up its management team. Twitter’s head of brand strategy on using the platform for the Super Bowl and avoiding the president.

Sard supports Snap Inc. IPO
Snap Inc. brought on Sard Verbinnen & Co. last year for communications support for its upcoming initial public offering. The company filed to go public Thursday afternoon, and while its valuation is estimated at $25 billion, it has also recorded significant losses in the past two years. Recode: Snap’s IPO numbers look a lot more like Twitter’s than Facebook’s.

What to watch this morning
The first jobs report since President Donald Trump took office is set to be released at 8:30 am EST. Analysts are expecting 174,000 jobs added, with the unemployment rate staying at 4.7%, according to The Wall Street Journal. Experts are also looking for another month of solid wage growth. Update: The U.S. economy added 227,000 jobs last month, more than expected, and the unemployment rate moved up slightly to 4.8%. Wage growth slowed.

Trump on Twitter today
The president used his favorite social media platform this morning to keep his feud with Arnold Schwarzenegger going, thank Australia’s prime minister for saying they had a civil conversation, threaten Iran, preview his Friday morning meeting with top CEOs, and blame "professional anarchists, thugs, and paid protesters.

Musk defends White House trip
Tesla and SpaceX chief Elon Musk released a statement last night defending his role on a presidential advisory council. Musk said he will raise his objections about Trump’s travel ban executive order. Uber CEO Travis Kalanick dropped out of the advisory body yesterday after the #DeleteUber campaign. Experts said Trump’s immigration policies have given technology leaders the opening they were waiting for to begin criticizing the president.


Alternative fact check
White House counselor Kellyanne Conway was caught telling another whopper on Hardball Thursday night. Conway defended the president’s travel ban policy by saying Iraqi refugees planned the "Bowling Green Massacre"—which never took place. The fictional event was the top trending topic on Twitter on Friday morning.


Magazines drop Correspondents Dinner events
The New Yorker and Vanity Fair are pulling out of events around the White House Correspondents Dinner, the closes thing Washington has to the Oscars. Other companies such as Bloomberg LP are going ahead with their plans. 

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