Snap Inc establishes international London office
Snapchat has chosen London as the location of a new international office, a move it says ensures it will pay UK tax.
The parent company for the image and video-based social app, Snap Inc, retains its global headquarters in Venice, California, but has changed the way it operates in London.
It plans to bill advertising revenue generated in the UK and some other countries through a UK-registered entity, meaning it will pay tax in the UK, something it believes is "part of being a good local partner as we grow our business".
Mayor of London Sadiq Khan welcomed the move, stating on Twitter that it is "another sign that #LondonIsOpen to talent".
Snap's decision to use its London office in this way has bucked the trend for tech companies to choose Ireland or other European countries as bases for offices, due to favourable tax incentives.
The firm rebranded to Snap after the launch of Spectacles - glasses that record first-person video that can be shared with friends via Snapchat. At present, they are only available in the US.
Related content
Snap Inc.’s Digital Upfront: What we learnt
Learn more
COP26: How are digital platforms tackling climate change?
Learn more
Snap Inc. x Digital Upfronts: 5 things we learnt
Learn more
Snapchat adds new emoji feature
Learn more
Fast forward to 2030 with Futurescape
An in-depth exploration of the attitudes, innovations and media shifts that will shape the years ahead and redefine how we advertise by the turn of the decade
IAB UK Chatbot
