SNAP Interactive Hires New CFO

After closing its recent merger with video chat room Paltalk and posting falling Q3 results, SNAP Interactive has appointed a new CFO.

Judy F. Krandel takes over from Alex Harrington, SNAP’s CEO, who has been serving as interim CFO and “fulfilling the duties of principle financial officer and principle accounting officer” since March 2014.

Krandel, who has been a SNAP board member since 7th October 2016, joined the public dating company from Juniper Investment Company, a small-cap hedge fund.

With the appointment, Harrington will continue to serve as CEO.

Speaking about the appointment, Harrington said: “Judy’s background as an investor and equity research analyst will be a great asset in helping the Company manage its strategic planning, capital markets approach and investor relations effort.

“She has also cultivated deep relationships with participants in the small and micro-cap ecosystem that we expect will help the Company achieve its strategic objectives, which include listing our common stock on a national securities exchange.”

Krandel joined Juniper in 2011, serving as Portfolio Manager for the Juniper Public Fund, a value-oriented fund that focuses on small-cap equities.

Prior to that, Krandel was a Portfolio Manager at Alpine Woods and First New York Securities, LLC.

Talking about her new role, Krandel said: “SNAP has the elements in place to be successful: It operates in a very dynamic industry, with leading-edge technology and a management team with the vision and experience to capitalize on the opportunity.”

Earlier this month, SNAP posted falling Q3 results – revenue decreasing 16.1% since the start of the year.

In terms of subscription revenue, this fell by 18.4% from $8.9m to $7.3m, as advertising revenue grew by 53.3% to $0.46m.

However, following its merger with Paltalk, which was closed last month, SNAP said it will have an injection of capital to help fund growth.

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