Amazon's quarterly ad sales went above $2 billion for the first time during the first quarter of 2018 . It has become the third largest advertising platform in the U.S. behind Google and Facebook, according to eMarketer .

"Helping our partners build their businesses is a core element of Snap's product value and I'm deeply proud of the great work you have all done to make sure our advertisers' return on investment is unrivaled among our peers," Spiegel wrote. "Jeremi joins us with proven expertise and talent that will make our platform even better."

Jeremi Gorman will serve as Snap's new chief business officer, in charge of global business solutions, global online sales, customer operations and business marketing, CEO Evan Spiegel said in a note to employees Wednesday. Most recently, Gorman was head of global advertising sales for Amazon.

Jared Grusd has been named the new Chief Strategy Officer for the company, Spiegel announced. Grusd will oversee content, global strategy, partnership and corporate development. Before Snap, he most recently was the CEO of The Huffington Post, and held jobs at Spotify, Google and Oath.

Gorman's and Grusd's roles will replace the job Imran Khan previously held. Khan announced he was leaving the company in September.

Snap also added Jean Gonié as its director of EU Policy and Alston Cheek as its director of platform partnerships this month. Gonié was previously director of public policy at Amazon, while Cheek was a partnerships manager at Apple.

Snap has had a rough time lately as it faces increased competition from Facebook's Instagram. A recent report from Piper Jaffray found 85 percent of teens used Instagram, making the app more popular than Snapchat for the first time in the survey's history. The stock has declined more than 53 percent over the last year. Adding notable digital advertising and media executives may help bolster Snap's image, especially among brands and marketers.

The company reports earnings on Thursday. Shares of Snap immediately reacted to the news, spiking as much as 2 percent.

Here's the full email to employees below: