Snapchat just poached a key ad exec from Facebook to turn on the money jets

Sriram KrishnanYouTube/ScreenshotSriram Krishnan is moving from Facebook to Snapchat.

Snapchat is getting serious about making money from advertising and has hired a key player from Facebook to do it.

Re/Code first reported that Sriram Krishnan is leaving Facebook for the ephemeral messaging app. At Facebook, Krishnan led one of the upcoming threats to Google’s ad dominance: Facebook Audience Network.

As its product manager known for making “Hamilton” references, Krishnan helped Facebook unlock money by taking its advertising to publishers outside of the app, keeping user’s newsfeeds clutter free and making more ad units available to advertisers.

That’s the kind of expertise Snapchat needs to make money as a growing company. And at Snapchat, Krishnan will be responsible for heading up monetisation.

In the past week, Snapchat announced it’s inked a deal with Nielsen to start measuring its ads in a way that models it like a TV network. By giving advertisers a metric, like gross rating points, that it could compare to what they run on a traditional ad campaign, Snapchat is trying to promote itself as a better ad spend.

Given Krishnan’s strength at finding revenue in new places, he’ll be a key factor in whether or not Snapchat finds a good way to monetise its disappearing messages. Previous attempts like a Lens Store for users to buy crazy filters shut down only after two months as it refocused on building out the advertising business.

Krishnan did not immediately return request for comment.

NOW WATCH: Teens reveal their favourite apps and the winner is clear

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.