We recently hosted our first Snap Direct Response Summits in Santa Monica and New York. Across two days, we welcomed hundreds of clients and partners to our offices, where they heard from Snap CEO and Co-founder Evan Spiegel, VP of Small & Medium Customers Sid Malhotra, VP of Product Growth Ty Ahmad-Taylor, and more. Our leaders shared details about our revamped ad platform, and how Snapchat can help businesses of all sizes reach our global community of over 800 million people and drive real performance.
Over the past few years, we’ve rebuilt our ad platform to significantly improve our direct-response products and help businesses achieve lower-funnel results. And the improvements we’ve made are working!
In Q1, ongoing momentum with our 7/0 pixel purchase optimization model led to a more than 75% increase in purchase-related conversions year-over-year. We also saw the number of SMB advertisers on Snapchat grow 85% year-over-year. Both of these helped contribute to Snap growing revenue 21% year-over-year to reach $1.195 billion this past quarter.
The most exciting thing for me is the growth we've seen recently with small- and medium-sized businesses who've been able to adopt our tools and use [them] to grow their business in such a competitive marketplace.
We had a great time hosting so many partners and showing firsthand the progress we’ve made on our ad platform. Thank you to those who joined us! And if you didn't make it this time, check out the highlights video below and stay tuned for more ad product updates coming soon.