Evan Spiegel, CEO and co-founder of Snap Inc, is placing a large bet on the Indian market.
During the Q4 2021 earnings call, he stated that the firm had worked hard over the last year to organise its workforce and invest in its products to capitalise on monetisation and community development potential.
“Our expansion efforts in India have proven to be effective, and we are leveraging our lessons learned to shape how we approach community growth in other countries.” Our desire to create a better way of communicating visually through our camera has evolved into a leading augmented reality platform. “Today, our augmented reality products and services are having a significant effect at scale, as Snapchatters utilise our services to purchase, play, study, explore, and enjoy themselves,” he added.
According to the CEO, the company’s sales increased by 64% year on year in 2021, with a 42% yearly increase in the fourth quarter.”We achieved adjusted EBITDA profitability for the second year in a row.” We experienced our first full year of positive free cash flow and our first quarter of positive net income in the fourth quarter.”
Achieving positive free cash flow for the whole year is a significant milestone, as we are increasingly able to self-fund our future initiatives,” he said.
He stated that over 200 million users use augmented reality on Snapchat every day and that the Snapchat community currently uses AR Lenses an average of more than 6 billion times every day.
They have created over 2.5 million Lenses watched by Snapchatters over 3.5 trillion times, and over 300 artists have each had over 1 billion views of their Lenses. “As Snapchatters experiment with new AR experiences to better what people see and do in their daily lives, we will continue to offer tools to enable Lens developers to push the limits of what the Snapchat Camera is capable of.”
We also discussed assisting creators and refining the tools they use to build for our platform at Lens Fest. We launched a Lens Call-To-Action tool that allows creators to include a link within a Lens, making it simple to direct Snapchatters to a new location, such as a website.
Follow and connect with us on Facebook, LinkedIn & Twitter
