Revolut Hires TikTok Executive to Boost Advertising Revenue
Revolut has hired Inam Mahmood, former head of ecommerce partnerships at TikTok UK, to lead a sales team of about 30 people with the ambition of hitting an internal target for advertising revenue of about £300 million by 2026.
In December, Revolut forecasted that it would hit $1.9 billion in revenue this year, nearly double the $1 billion it recorded in the previous 12 months. This rise comes off the back of strong customer growth, with 300,000 users being added weekly, giving Revolut nearly 40 million customers.
Explaining the strategy, Revolut’s head of growth Antoine Le Nel told the Financial Times: “We could become a media [business] . . . a place where you have an audience and data about the audience and you monetise this.”
He believes the business could derive a “proper chunk” of its total revenue from targeted advertising.
“We know how [users] navigate inside the app, we know some of their interests that they have because they’ve clicked on this and that,” the fintech executive added.
READ MORE: Vitalik Buterin: Cryptocurrency is About Liberty, Not Just Trading
Le Nel said advertisers and distributors had already shown interest in partnering with the fintech, which is running internal tests for targeted advertising and has been in talks to sell advertising space on its app to brands.
“We want people to have a daily routine: you check your Instagram, you check your emails and you check your Revolut,” Le Nel told the FT. “We want to be part of your daily routine.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
