Snap Inc., the parent company of Snapchat, announced on February 4 that it has elevated Ajit Mohan to Chief Business Officer. Mohan will oversee the company’s advertising operations, focusing on expanding and refining its revenue-generating initiatives worldwide. Snap’s strategic move aims to align its diverse business units to better serve advertising partners across global markets, the company revealed in an investor letter.
Mohan, who joined Snap in November 2022 as President for the Asia-Pacific (APAC) region, will now direct efforts to enhance Snap’s advertising footprint in all regions. His appointment follows a broader restructuring of Snap’s leadership to better address regional markets, with the creation of new executive roles for the Americas, Europe, the Middle East and Africa (EMEA), and APAC.
On February 4, Snap Inc. announced financial results for the quarter and full year ended December 31, 2024. “In 2024 we made significant progress on our core priorities of growing our community and improving depth of engagement, driving top line revenue growth and diversifying our revenue sources, while building toward our long-term vision for augmented reality,” said Evan Spiegel, CEO. “Active advertisers more than doubled in Q4, with the improvements we have made to our advertising platform driving improved advertiser performance and helping to grow revenue 14% year-over-year.”
Under Mohan’s leadership, Snap saw notable progress in APAC, particularly in India, where it has amassed over 200 million monthly active users. Before joining Snap, Mohan spent nearly four years as Vice President and Managing Director of Meta’s India operations, where he was the first local executive to report directly to Meta’s headquarters in Menlo Park. Prior to that, Mohan served as CEO of Hotstar, where he helped the streaming service become a dominant player in India’s rapidly growing video streaming market.
Mohan’s extensive background also includes senior roles at Star India’s television division and stints with consulting firms McKinsey & Company and Arthur D. Little.
Snap Inc’s Annual Financial Summary
Revenue was $5,361 million in 2024, compared to $4,606 million in the prior year, an increase of 16% year-over-year.
Net loss was $698 million in 2024, compared to $1,322 million in the prior year.
Adjusted EBITDA was $509 million in 2024, compared to $162 million in the prior year.
Operating cash flow was $413 million in 2024, compared to $247 million in the prior year.
Free Cash Flow was $219 million in 2024, compared to $35 million in the prior year.