Snapchat parent Snap Inc. said it is halting ad sales to Russian and Belarusian media buyers.The app will remain up and running in Russia, Belarus and Ukraine without advertising, the company said, because it is an “important communications tool for family and friends.”In terms of any financial sacrifice from the foregone advertising opportunities, it isn’t clear that all that much is at stake for Snap.
The company collected $660.5 million in revenue in Europe, which includes Russia, in 2021. That was about 16% of its overall total of $4.1 billion in revenue, almost all of which comes from ads.
The company does not break out usage numbers or financial metrics in individual countries.In a blog post topped by the blue-and-yellow Ukrainian flag, Snap offered its support of the former Soviet state, which was invaded last week by Russia.
While the company does not have an office in Russia, the post noted, “Ukraine is the birthplace of Looksery, the company that laid the foundation for Snap’s augmented reality platform, and has been the home of more than 300 of Snap’s most creative and talented team members.
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