Snapchat taps London as global base outside US

Agence France-Presse

This is AI generated summarization, which may have errors. For context, always refer to the full article.

Snapchat taps London as global base outside US

AFP

It comes after Facebook, Google and Apple last year announced major investments in London, underlining the capital's status as a technology hub as Britain prepares to exit the European Union

LONDON, United Kingdom – Snap Inc., which runs the camera messaging application Snapchat, said on Tuesday, January 10, it had chosen London as its international headquarters, praising the UK’s creative industries. 

It comes after Facebook, Google and Apple last year announced major investments in London, underlining the capital’s status as a technology hub as Britain prepares to exit the European Union.

“I am happy to confirm that the UK is the Snap Inc. family’s hub outside the US,” a Snap spokeswoman said. 

Snap has around 75 staff in the UK, up from 6 a year ago and is looking to add a nearby site to its office in London’s Soho district, she added.

“We believe in the UK creative industries,” said Claire Valoti, general manager of Snap’s UK operations, in a statement.

“The UK is where our advertising clients are, where more than 10 million daily Snapchatters are, and where we’ve already begun to hire talent.”

The firm behind the popular disappearing message application says it has more than 150 million daily active users, including 50 million in Europe. 

Snap’s UK entity will book revenues from customers in the UK and countries where there is no local entity or sales force. Its only other European entity is in Paris.

In November, Snap Inc. reportedly filed confidential paperwork for a public share offering valuing the messaging platform at more than $20 billion.

The initial public offering (IPO) would be among the biggest in the tech sector in recent years and shine a light on the fast-growing platform.

Snapchat is famous for mobile messages and photos that disappear after being viewed by the recipient. – Rappler.com

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI

How does this make you feel?

Loading
Download the Rappler App!