The instant messaging service Snapchat announced that it will establish an international business operations headquarters in London. After the announcement of Brexit in the UK, the arrival of Snapchat shows that technology companies have not lost confidence in the future of the UK.
Snapchat has 150 million active users worldwide, and it is not surprising to set up an operating headquarters overseas. Many US technology companies will choose countries with lower tax rates in Ireland and Luxembourg to set up subsidiaries or open offices. Snapchat has chosen the UK to be surprised. .
Snapchat's parent company, Snap, plans to have an IPO in 2017, which will be the largest IPO in the US stock market since 2014. Snapchat is looking at the UK's strong creative industry, a great place to run a global business. Regulatory uncertainty after the Brexit, London is still a very attractive city for technology companies, where a large number of top talents in creativity and technology are gathered. At the same time, London, as a global financial center, also provides a good fundraising environment for large technology companies and startups. Since the referendum in June 2016, companies such as Google, Facebook, and Amazon have increased their investment in London.
Snap executive Claire ValoTI said that he has confidence in the UK's creative industries and has many advertisers in the UK market. The recruitment of relevant talent has already started. Currently, the company has about 75 employees in London. 6 employees.
After the Brexit, there may be restrictions on the flow of talents. This is a factor that technology companies are more worried about. Talent is an important reason for attracting technology companies to increase investment. Limiting the flow of talent will reduce the attractiveness of London.
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