Evan Spiegel, CEO of SNAP Inc.
Stephen Dessonis | CNBC
Snap’s stock suddenly soared on Tuesday after announcing that investors are expected to achieve more than 50% revenue growth for many years in a row.
The stock price rose about 7% from Monday’s closing price of about $58.50 to its highest point of $67.68, an increase of nearly 7%. Now, they are hovering around $65.50 and have risen about 3% during most of the decline in technology stocks.
Peter Sellis, senior director of Snap advertising products, told investors: “Through work on the self-service advertising platform, we can achieve revenue growth of more than 50% for 50 consecutive years.”
Sellis explained how the company has built its Ads Manager self-service advertising tool since its launch in 2017. The company has expanded its user-specific tools and allowed advertisers to place different types of bid results.
Sellis said that now, Snap has established a self-service advertising ecosystem, the ecosystem has promoted Snap’s cost-per-impression, while bringing return on investment for advertisers.
Sailis said: “The more advertisers we have, the more diverse the ad set we can display.” “This makes these ads more relevant and makes it more likely for Snapchatters to interact with them. This in turn Improved ROI and made our inventory more efficient.”