This stat should make you bullish on Snap, according to Ross Levinsohn

Levinsohn: Pick a company you want to run
Levinsohn: Pick a company you want to run

If you're a Snap investor and you're getting a little worried, you might seek some solace from technology and media executive Ross Levinsohn.

He says a little patience will go a long way, and that Snap's huge user base could turn it into a digital advertising powerhouse.

"Here's the one statistic I saw that really interested me: Snapchat has about 31 percent of social media users and 2 percent of the advertising dollars," Levinsohn told CNBC.

EMarketer now projects that Snap will bring in $770 million in advertising revenue this year, slightly lower than its January predictions. Still, Levinsohn — who was formerly interim CEO of Yahoo and president of Fox Interactive — thinks the ability for it to make money is "monstrous," because of the gap between its number of users and its share of the digital advertising budget.

"You can't reach my daughter and all of her friends unless you are where they are," said Levinsohn, who is currently on the board of Tribune Media. "That is a really important market. She's on Netflix. She doesn't watch network television as we did, and she is on Snapchat 72 times a day."

He paralleled Snap's potential ad revenue growth to Instagram, which also took a while until it started making money.

"This is a long term trade," he said. "I'd like to come here a year from now and see are they closing that gap? Did they get advertisers (to invest)? If they don't, they have a nasty fate."

But with its sizable audience and veteran industry leaders like former Viacom ad sales chief Jeff Lucas and ex-Credit Suisse head of Internet banking Imran Khan now on board on Snap, Levinsohn said he is "100 percent" on the company's future.

"My own recommendation is take a deep breath," Levinsohn said. "Congratulate Evan and the team on an amazing job."