Snapchat hires Mattel executive as vice president of finance
Snapchat increasingly has used its chat and video app to run ads, such as this digital sticker from McDonald’s.
Snapchat Inc. has hired a longtime executive at Mattel Inc. to serve as vice president of finance.
Drew Vollero, 49, was senior vice president of corporate strategy, development and investor relations for the struggling El Segundo toy maker, which dumped its chief executive this year.
Vollero starts at Snapchat on Monday, a spokeswoman for the Venice start-up said.
He’ll also be Snapchat’s acting chief financial officer, a key role for the entertainment app maker as it considers going public at some point. Snapchat has raised more than $1 billion in venture capital, imputing a valuation of $16 billion for the 4-year-old company. It should generate tens of millions of dollars in advertising revenue this year.
Already on hand at Snapchat is Chief Strategy Officer Imran Khan, who led IPOs for companies such as Groupon and Alibaba as a Credit Suisse investment banker.
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