Tuesday, March 2, 2021
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Snap stock pops as company tells investors it’s on track for several years of 50% growth

Evan Spiegel, CEO of SNAP Inc.

Stephen Desaulniers | CNBC

Shares of Snap appeared suddenly on Tuesday after announcing that it was able to deliver several years of revenue growth of over 50% during the company’s investor day.

The shares fell about $ 58.50, or about 7% below Monday’s close, and closed at $ 70.45 on Tuesday, up more than 11%.

“Through the work on our self-serve advertising platform, we are able to generate several years of 50% growth plus revenue,” Peter Sellis, senior director of advertising products at Snap, told investors.

Sellis explained how the company has developed its Ads Manager self-service advertising tool since its launch in 2017. The company has expanded the capacity of the tools to target users and allow advertisers to place different types of auction results.

Now, Snap has grown its self-service advertising ecosystem that has increased the cost per impression for Snap while driving a return on investment for advertisers, Sellis said.

“The more advertisers we have, the more diverse the set of ads we can run,” Sellis said. “It makes these ads more relevant and Snapchatters are more likely to engage with them. It drives a higher ROI and makes us more efficient with our inventory.”


Note: The content and images used in this article is rewritten and sourced from www.cnbc.com

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