A leaked internal memo from Snapchat CEO Evan Spiegel describes his strategy for Snapchat amidst sinking share numbers. Ever since Snapchat’s redesign, the company has been floundering –so how are they going to bounce back?

Spiegel admits that:

The biggest mistake we made with our redesign was compromising our core product value of being the fastest way to communicate.

Spiegel elaborates by specifically pointing out the backlash against combining stories with chat, and admits that it was a bad decision.

He also stated that the redesign was too rushed:

We rushed our redesign, solving one problem but creating many others . . . Unfortunately, we didn’t give ourselves enough time to continue iterating and testing the redesign with a smaller percentage of our community. As a result, we had to continue our iterations after we launched, causing a lot of frustration for our community.

Moving forward, Spiegel proposes that making it easier for users to communicate with their closest friends will give the app an edge over Facebook, which is a cacophony of everyone and everything. Snap also plans to keep improving the Snapchat Discover feature, which is performing better than IGTV and Facebook Watch, but is still cluttered and filled with clickbait. Spiegel also wants to involve more adults on the app, bring the focus back to messaging instead of stories, and expand in developing markets outside the U.S.