Snapchat set to make London its global base
SNAP Inc, which runs the camera messaging application Snapchat, said yesterday 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 six 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 company behind the popular disappearing message application says that 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 would be among the biggest in the tech sector in recent years and shine a light on the fastgrowing platform.
Snapchat is famous for mobile messages and photos that disappear after being viewed by the recipient.