MUMBAI:  Snap Inc has promoted Ajit Mohan to chief business officer, according to its Q4 2024 investor letter released on 4 February 2025. Mohan, who joined the company over two years ago as president of APAC, successfully expanded Snap’s business and presence across the region.

In his new role, Mohan will oversee the company’s global advertising operations, lead its revenue product teams, and drive alignment with partners to accelerate growth. He will be based in New York.

The investor letter highlighted Snap Inc's continued focus on expanding its community, diversifying revenue, and advancing augmented reality (AR) technology.

Key financial highlights include:
* Daily active users (DAUs): 453 million, up 39 million year-on-year.
* Q4 revenue: $1.56 billion, a 14 per cent  year-on-year increase, driven by direct-response (DR) advertising and Snapchat+ subscriptions.
* Profitability: $276 million adjusted EBITDA and $182 million in free cash flow.
* Net income: $9 million.

For 2024, Snap Inc reported $5.36 billion in revenue, marking a 16 per cent  annual increase. Direct response advertising revenue also rose by 16 per cent . Snapchat+ subscriber numbers doubled from 7 million to 14 million, contributing to a 131 per cent rise in subscription revenue, which now exceeds an annualised run rate of $500 million.

Snap achieved $509 million in adjusted EBITDA for the year, its fifth consecutive year of positive results, along with $219 million in free cash flow.

Mohan’s appointment signals Snap’s intent to strengthen its global advertising strategy and build on its ongoing financial momentum.