Snap Inc. Strengthens Board, Expands Subscription Services, and Diversifies Revenue

Published 17 hours agoSNAP

Snap Inc. Strengthens Board, Expands Subscription Services, and Diversifies Revenue

Snap Inc. recently made a strategic move by expanding its board of directors with the appointment of Jim Lanzone, the current CEO of Yahoo Inc., in September 2024. This addition brings Lanzone’s vast experience in technology and digital advertising to the table, potentially boosting Snap’s growth and innovation efforts, as reported by investing.com.

Snap's subscription service, Snapchat+, has experienced notable expansion, with its subscriber count doubling to 14 million. This growth significantly contributes to an annualized revenue run rate of over $500 million, showcasing strong user engagement and the monetization potential of their premium service. Additionally, fastbull.com reported that the company has succeeded in diversifying its advertising revenue. By attracting small and medium-sized businesses as advertisers, Snap has broadened its revenue base, decreasing its dependence on major advertisers.

Looking ahead, Snap forecasts its first-quarter 2025 revenue to range between $1.325 billion and $1.36 billion, while projecting an adjusted EBITDA between $40 million and $75 million. The company is undergoing a transformation into a more diverse technology entity, which, along with its solid cash position, reflects its strategic focus on growth and innovation. Snap has also joined the Thrive initiative involving major tech firms to enhance online content safety, reaffirming its commitment to responsible content management.

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