Snap CEO Evan Spiegel: 'Snapchat Is Different Than Social Media' - Snap (NYSE:SNAP)
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Snap CEO Evan Spiegel spoke about his plan to increase advertising revenue for Snapchat by highlighting its differences from social media platforms. He emphasized that Snapchat is different from social media and aims to bring friends and family closer together and provide a safe environment for campaigns. Spiegel mentioned a newly launched brand campaign that showcases Snapchat's creative and expressive features, which he believes will attract more advertisers to the platform and drive revenue. Additionally, he highlighted the company's focus on building its performance advertising business and assisting advertisers with conversions, which has resulted in positive growth.
"Snapchat was designed differently, to bring friends and family closer together, to allow people to express themselves through our camera," Spiegel said.
Snap's stock experienced a decline after the company reported mixed quarterly results and conservative guidance. However, Spiegel remains optimistic about improving revenue trends due to the platform's unique offerings and investment in performance advertising. He mentioned that Snapchat has seen a 90% year-over-year growth in purchase-related conversions for the fourth quarter and an increase in small and medium-sized advertisers.
"We are expecting that to translate into improved revenue trends," Spiegel said.
Read at Benzinga
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