Snap’s chief strategy officer calls it a day plunging company into further trouble

Anne Freier

In Mobile Advertising. September 12, 2018

Imran Khan, Snap Inc.’s chief strategy officer (CSO) has decided to leave the company. Khan did not set an official leaving date just yet. He continues his role at Snap until then.

“After nearly four years at Snap, I have decided to step down,” Khan explained in an email which was obtained by CNBC. “This has been a very difficult decision for me to make. There is never a perfect time to say goodbye, but I know that the time is now. We have a stellar leadership team in place to guide Snap through the next phase of growth and on to the next chapter.”

Khan, who was an investment banker before joining Snap, plans to open his own investment fund once he leaves. His departure follows that off Drew Vollero, Snap’c chief financial officer just four months prior.

The departures are highlighting that Snap could be in trouble. Neil Campling at Miraboud Securities told Reuters that “the initial plan to reach profitability by the end of this year now looks like a long way off.”

The company has struggled over the past year to ensure profitability increase its advertising revenue by introducing new tools and features. eMarketer predicts that the company could be generating revenues as high as £105 million in 2018 in the UK alone. Although that’s still way below competitors such as Instagram, it’s a step in the right direction for Snap.