This article is more than 1 year old
Snapchat chooses London for international headquarters
Media luvvies and adland the lure
The company behind teen sexting phenomenon Snapchat has chosen London for its international HQ. The Snap Group already has 75 staff here. The company cited proximity to the UK’s world-class creative sector, which in this context means digital adland.
The ephemeral nature of Snapchat, which deletes photos after a short time period, rapidly attracted teenagers to the app, and it now boasts over 100 million users. Concerns about cyberbullying and sexting followed. That hasn’t given investors pause for thought, though – the company is valued at around $20bn and investors include Alibaba and Tencent.
The move has been seen as a further vote of confidence in London’s tech and media sector, “despite” the UK’s decision to leave the European Union. ®
A nice collection of DespiteBrexits can be found here at DespiteBrexit.com. The site's proprietor boasts that “No taxpayer funds were used in the design, production or hosting of this website.” Which is surely a costly error; we have forwarded him the details of our transformation guru, Mr Steve Bong.