Snap Inc. onboards Ajit Mohan as Chief Business Officer
Ajit Mohan, who joined Snap Inc. in January 2023 as President of the APAC region, will now lead revenue products and business operations to streamline ad partner support.
Snapchat parent Snap Inc. has appointed Ajit Mohan as its Chief Business Officer, effective February 4, to oversee its expanding advertising business globally.
Mohan, who joined Snap Inc. in January 2023 as the President of the Asia-Pacific (APAC) region, will now lead revenue products and business operations to streamline ad partner support, the company said in its Q4 2024 investor letter.
“We are pleased to announce that Ajit Mohan will be our new Chief Business Officer. Ajit joined Snap over two years ago as President of APAC, where he rapidly grew our business and presence across the region. As Chief Business Officer, Ajit will be responsible for growing our advertising business across all regions, and will lead our revenue product and business operations organisations to help bring greater alignment across our teams responsible for serving our advertising partners,” read the investor letter.
Before Snap, Mohan served as the VP and MD at Meta India, and the CEO of Hotstar (2015–2018). His two-decade career includes roles at Star TV, WSJ, McKinsey, and Arthur D. Little.
The company released its Q4 2024 earnings, generating $5.36 billion in revenue in 2024, reflecting a 16% annual growth, driven primarily by direct-response (DR) ad revenue, which also rose 16% annually.
Snapchat+, the ad-free premium subscription, doubled its subscriber base from 7 million to 14 million, fueling its other revenue growth by 131% YoY. The company exited the year with an annualised revenue run rate exceeding $500 million from Snapchat+ subscriptions.
Snap Inc. has also rolled out an AI text-to-image research model for mobile devices to enhance a few of Snapchat’s features in the coming months. The latest model is capable of producing high-resolution images in around 1.4 seconds on an iPhone 16 Pro Max.
"In Q4, we made significant strides in AI research and innovation. Our team developed a groundbreaking AI model capable of generating high-resolution images on mobile devices in just seconds. This on-device model with only 379 million parameters, is compact yet highly efficient, producing images in just 1.4 seconds on an iPhone 16 Pro Max. We are excited to bring this technology into production in the coming quarters. In addition, we launched Easy Lens in Lens Studio 5.4, an AI-powered tool that simplifies AR creation by enabling users to create and customise Lenses through text prompts," the letter added.
Edited by Suman Singh