Snap, the company which is primarily responsible for the creation of Snap chat, is putting plans in place to transfer its international headquarters to London. Basically this is far from the tradition for US tech firms, especially when you consider that a host of other large companies including Google, facebook, and Uber had rather adopted tax havens like Ireland and Luxembourg for headquarters. This move has been pushed by Snap measurably and has gained plaudits as it is sure to protect Snapchat from any of these cases that pop up as to tax avoidance.
The information, which was first brought to light by the financial times, indicates that all advertising sales executed in nations where Snap doesn’t boast a local operation will be booked in the UK. Basically Snap has its biggest offices in the UK following those Snap has in the US. Snapchat’s official revenue for estimated for this year is $1billion. So far Snapchat has been credited as growing in leaps and bounds having expanded by over seven times as compared to rivals.
At present, Snap has 75 staff in London. Since two years ago, London has been the site of Snap’s first overseas operation. Of course there has been a tremendous leap to in the fortunes of the company considering that it started with just 6 staffs.