Snap tells investors it is on track for several years with 50% growth

Snap shares suddenly appeared on Tuesday after announcing it is in a position to drive several years of revenue growth of more than 50% during the day for the company’s investors.

Shares rose from about $ 58.50, 7% below Monday’s close, to a high of $ 67.68, up 7%, according to comments. They are now hovering around US $ 65.50, up 3% on a mostly low day for tech stocks.

“By working on our self-service advertising platform, we are in a position to generate several years of 50% more revenue growth,” Peter Sellis, senior director of advertising products at Snap, told investors.

Sellis explained how the company has developed its Ads Manager self-service ad tool since its launch in 2017. The company has expanded the ability of tools to target users and allow advertisers to place different types of ads. bid results.

Now, Snap has built its self-service advertising ecosystem that has generated the cost per impression of Snap while generating a return on investment for advertisers, Sellis said.

“The more advertisers we have, the more diverse the set of ads we can show,” Sellis said. “This makes these ads more relevant and Snapchatters more likely to interact with them. This in turn increases ROI and makes us more efficient with our inventory.”