Sign in

    Snap Inc (SNAP)

    You might also like

    Snap Inc. is a technology company that focuses on developing innovative communication and entertainment platforms. The company primarily operates Snapchat, a multimedia messaging app, and generates revenue through advertising, subscriptions, and hardware sales. Snap Inc. is known for its emphasis on augmented reality (AR) and creative tools that enhance user engagement and interaction.

    1. Advertising Products - Generates revenue through Snap Ads and AR Ads, which are integrated into the Snapchat platform. These ads may involve revenue-sharing arrangements with content partners and represent the primary source of the company's revenue.

    2. Subscriptions - Offers subscription services to users, contributing additional revenue streams. Specific details on the subscription offerings are not provided.

    3. Hardware Products - Sells hardware products, with revenue reported net of allowances for returns. The specific hardware offerings are not detailed in the documents.

    NamePositionExternal RolesShort BioStart Date

    Evan Spiegel

    ExecutiveBoard

    Chief Executive Officer

    Board Member at KKR & Co. Inc.

    Co-founder of Snap Inc., CEO since May 2012, led Snap through its IPO and innovations like AR features and Spectacles. Holds a B.S. in Engineering – Product Design from Stanford University.

    May 2012

    Robert Murphy

    ExecutiveBoard

    Chief Technology Officer

    Board Member at KKR & Co. Inc.

    Co-founder of Snap Inc., CTO since May 2012, pivotal in Snap's technological advancements. Holds a B.S. in Mathematical and Computational Science from Stanford University.

    May 2012

    Derek Andersen

    Executive

    Chief Financial Officer

    None

    CFO of Snap Inc. since at least April 2023, oversees financial operations. No external roles listed in documents.

    April 2023

    Eric Young

    Executive

    SVP of Engineering

    None

    SVP of Engineering since June 2023, previously VP of Engineering at Google and held roles at Amazon. Holds a B.S. from Vanderbilt University and an M.B.A. from Wharton.

    June 2023

    Michael O’Sullivan

    Executive

    General Counsel

    None

    General Counsel since July 2017, previously a lawyer at Munger, Tolles & Olson LLP. Holds a J.D. from USC Gould School of Law and a B.A. from the University of Pennsylvania.

    July 2017

    Rebecca Morrow

    Executive

    Chief Accounting Officer

    None

    CAO since September 2019, oversees accounting operations and financial reporting. Previously held roles at GoDaddy and Deloitte. Holds a B.S. in Business and Accounting and a Master of Accountancy.

    September 2019

    Fidel Vargas

    Board

    Board Member

    CEO of Hispanic Scholarship Fund; Member of President’s Commission on White House Fellowships

    Board member since July 2021. Former mayor of Baldwin Park, CA, and partner at Centinela Capital Partners. Holds an M.B.A. and an A.B. in Social Studies from Harvard University.

    July 2021

    Jim Lanzone

    Board

    Board Member

    CEO and Board Member at Yahoo Inc.

    Board member since September 2024. Former CEO of Tinder and CBS Interactive. Holds a JD/MBA from Emory University and a B.A. from UCLA.

    September 2024

    Joanna Coles

    Board

    Board Member

    Board Member at Sonos, WE NYC, and Fallen Journalists Memorial Foundation

    Board member since December 2015. Former Chief Content Officer at Hearst Magazines and Editor-in-Chief of Cosmopolitan. Holds a B.A. in English and American Literature from the University of East Anglia.

    December 2015

    Kelly Coffey

    Board

    Board Member

    CEO of City National Entertainment

    Board member since May 2020. Former CEO of City National Bank. Holds an M.B.A. from Wharton and a B.A. in Economics from Stanford University.

    May 2020

    Liz Jenkins

    Board

    Board Member

    Chief Business Officer at NBCUniversal Entertainment and Studios Group; Chair of the Board at GLAAD

    Board member since December 2020. Former COO and CFO at Hello Sunshine. Holds an M.B.A. from Wharton and a B.A. in Economics from Stanford University.

    December 2020

    Michael Lynton

    Board

    Chairperson of the Board

    Board Member at Ares Management, Warner Music Group, Schrödinger, and The Boston Beer Company

    Chairperson of Snap's board since September 2016, member since April 2013. Former CEO of Sony Entertainment. Holds a B.A. from Harvard College and an M.B.A. from Harvard Business School.

    April 2013

    Patrick Spence

    Board

    Board Member

    Board Member at Sonos, Inc.

    Board member since September 2023. Former CEO of Sonos and senior executive at BlackBerry. Holds a B.A. in Business Administration from the Ivey Business School.

    September 2023

    Poppy Thorpe

    Board

    Board Member

    CEO of a marketing and strategy consultancy

    Board member since August 2018. Extensive experience in digital and technology companies and advertising.

    August 2018

    Scott D. Miller

    Board

    Board Member

    CEO of Council Advisors; Founder and Chairman of G100 Network and SSA & Company

    Board member since October 2016. Extensive leadership experience in advisory and corporate governance roles.

    October 2016

    1. Despite active advertisers more than doubling year-over-year in Q2 , Direct Response advertising revenue increased only 16% year-over-year ; why isn't this growth accelerating faster, and what challenges are preventing DR revenue from scaling more significantly?

    2. Brand-oriented advertising revenue declined 1% year-over-year, impacted by weak demand from certain consumer discretionary verticals like retail, technology, and entertainment ; what specific strategies are you implementing to address this decline and stimulate growth in these key verticals?

    3. Changes to the content experience in North America were disruptive, leading to mixed results on time spent with content, which declined by just under 2% year-over-year ; can you elaborate on what caused these disruptions and how you plan to mitigate negative impacts on user engagement as you integrate Stories and Spotlight?

    4. Adjusted cost of revenue was $586 million in Q2, up 19% year-over-year due to infrastructure costs from ML and AI investments ; how do you plan to optimize these costs to improve adjusted gross margin, which decreased slightly to 53% in Q2 , while maintaining necessary investments in technology?

    5. North America daily active users were 100 million, down by less than 1% year-over-year but up quarter-over-quarter ; what initiatives are you undertaking to reinvigorate user growth in this critical market, and how confident are you in your ability to reverse this trend?

    Program DetailsProgram 1Program 2
    Approval DateOctober 2023 October 2024
    End Date/DurationCompleted in April 2024 12 months from approval
    Total Additional Amount$500 million $500 million
    Remaining Amount$0 N/A
    DetailsFully utilized: $311.1 million spent on 27.9 million shares. Authorized for 12 months; can be modified, suspended, or terminated at any time.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Multiple companies

    2022

    Deal Value and Structure: The total purchase consideration was $120.5 million, comprising $17.7 million in cash, $44.0 million in shares of Class A common stock, and $58.8 million in other liabilities. Strategic Rationale and Assets: The acquisitions were intended to improve Snap’s platform by leveraging expected synergies, with $69.3 million allocated to goodwill and the balance to identifiable intangible assets, of which $101.7 million is tax deductible.