Snap Inc. Chooses UK for Snapchat HQ

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Snap Inc. has decided that it will be setting up its Snapchat HQ in the United Kingdom.

Snapchat HQ, UK, Snap Inc.The Snapchat HQ will be located in Britain and it will act as the company’s international headquarters for its business. The new company that Snapchat will open in Britain to handle its world affairs will be named Snap Group Limited.

“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,” Claire Valoti, Snap Inc’s General Manager in the United Kingdom, told The Guardian.

The decision to set up the new international Snapchat HQ in Britain is unexpected. The country is preparing to leave the European Union and this means unstable ground for businesses. Many tech companies in the United States also chose to set up headquarters in countries with lower tax jurisdictions, like Luxembourg  or Ireland.

Despite these concerns the new Snapchat HQ will be located in London. The company says that Britain is “a great place to build a global business,” due to the strong creative industries located in it.

The decision to name the United Kingdom as its home for the Snapchat HQ also comes as the company prepares for its initial public offering. Reports claim that the filings for the IPO were confidential. This means the tech company can’t have more than $1 billion in yearly revenue.

Currents estimates have Snap Inc. raising as much as $2 billion in its IPO. This could value the company at $20 billion. The Snap Inc. IPO is expected to be available in March.


Article printed from InvestorPlace Media, https://investorplace.com/2017/01/snapchat-hq-uk-snap-inc/.

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