Evan Spiegel, CEO at Snap, said, “Our expansion efforts in India continue to prove successful, and we are using our learnings to inform how we approach community growth in new geographies,” Evan Spiegel, CEO at Snap, told analysts in a post-earnings call on February 3.
He said while North America and Europe represented the company’s largest monetisation opportunities in the near and medium term, it was the “rest of the world” that would provide the largest canvas for community growth.
“We have made a concerted effort over the past year to organize our team and make investments in our products to realize these monetization and community growth opportunities,” he said.
The company posted its first-ever quarterly net profit of $22.6 million in Q4 2021, while revenue increased 42% year-on-year (YoY) to $1.3 billion.
Interestingly, Snap said its daily active user base grew by 20% year-on-year to 319 million for Q4 2021. Its daily active user base has expanded by 20% or more for five consecutive quarters. This comes a day after Facebook reported that it has seen its
daily active users (DAUs) drop for the first time in its 18-year history.
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“Growth in our community accelerated in 2021, with full-year average DAU up 22% year-over-year compared to 19% in 2020,” Derek Andersen, Chief Financial Officer of Snap said. “Revenue reached $4.1 billion in 2021, an increase of 64% year-over-year, which is the highest rate of annual growth we have observed as a public company. Our revenue has more than doubled since 2019 with a two-year top line CAGR of 55%.”
