Snapchat has hired the founder of Facebook's mobile ad network.
Sriram Krishnan, a key executive on Facebook's mobile product team, is leaving to join Snapchat's growth and revenue team. Krishnan has not yet announced his new job, but a rep from Snapchat confirmed in an email that he was hired, and a Facebook rep confirmed his departure from that company.
According to LinkedIn, Krishnan joined Facebook in 2013, founded the Facebook Audience Network, which has since grown into a business with a $1 billion run rate. He also built mobile app engagement and deeplink ads at Facebook. Prior to joining the social network, he worked on the cloud team at Yahoo and the product team at Microsoft.
Snapchat has spent the past year building out its ad business with features like brand geo-filters, app-install campaigns, a new partnership with Nielsen and an increasing number of branded video ads.