Snap CEO Evan Spiegel: 'Snapchat Is Different Than Social Media'

Snap, Inc. SNAP CEO Evan Spiegel joined CNBC's "Money Movers" on Wednesday and shared his plan to increase advertising revenue by differentiating Snapchat from social media platforms.

“Snapchat is different than social media. I think people are feeling a lot of fatigue around social media right now. It feels like a popularity contest. There is a lot of harmful content and folks are worried about the negative impact,” Spiegel said.

The Snap CEO referenced a newly launched brand campaign which highlights the creative and expressive features of Snapchat and differentiates the platform from social media companies, including Meta Platforms, Inc. META. Spiegel believes these differences will bring more advertisers to the platform and drive revenue for the company. 

"Snapchat was designed differently, to bring friends and family closer together, to allow people to express themselves through our camera," Spiegel said.

Related News: Snap’s Stock Crashes On Q4 Earnings: Revenue Miss, EPS Beat, Cautious Guidance And More

Spiegel touted Snapchat's moderated content platform as a unique feature appreciated by advertisers because it provides a brand-safe environment for campaigns. 

He told CNBC that the key to increasing revenue at Snap is building its performance advertising business, and the company has invested heavily into helping advertisers succeed with conversions. 

Spiegel noted that the related improvements resulted in 90% year-over-growth growth in purchase-related conversions for the fourth quarter and growth in small and medium-sized advertisers. 

"We are expecting that to translate into improved revenue trends," Spiegel said.

Snap shares plunged earlier this week after the company reported mixed quarterly results and issued cautious guidance. The company guided for first-quarter revenue of $1.095 billion to $1.135 billion versus estimates of $1.12 billion, per Benzinga Pro.

SNAP Price Action: According to Benzinga Pro, Snap shares closed down more than 30% on Wednesday. The stock was down 2.99% at $11.07 at the time of publication.

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