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Snapchat to make London the home of its international operations

Written by Business World, on 10th Jan 2017. Posted in Technology

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Messaging app Snapchat said it would make London the home of its international operations, delivering another vote of confidence in Britain's tech standing as the country prepares to leave the European Union.

Snap Inc, which plans to go public this year in the biggest U.S. stock market debt since 2014, said the UK's strong creative industries made the country "a great place to build a global business".

"We believe in the UK creative industries," Claire Valoti, general manager of Snap Group in the UK, said on Tuesday.

"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."

Snapchat started in 2012 as a free mobile app that allows users to send photos that vanish within seconds. It now employs more than 75 staff in London, up from just six a year ago.

The company raised $1.81 billion in May, giving it a valuation of about $20 billion, but it only started to generate revenue from advertising a little over a year ago. (Reuters)

Source: www.businessworld.ie

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