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Snapchat Becomes Latest Tech Firm To Pick London Despite Brexit

Postby sunnyd » Tue Jan 10, 2017 2:12 pm

Story : http://www.reuters.com/article/us-britain-eu-snapchat-idUSKBN14U0S9





Messaging app Snapchat said it would make London the home of its international operations, delivering another vote of confidence in Britain's tech standing as the country prepares to leave the European Union.

The company, which has 150 million daily users globally, will book sales in countries where it has no local entity in Britain rather than routing them through lower tax jurisdictions like Ireland and Luxembourg as some other U.S. tech companies do.

Snap Inc, which plans to go public this year in the biggest U.S. stock market debt since 2014, said the UK's strong creative industries made the country "a great place to build a global business".

Despite the uncertainty sparked by the Brexit vote, London has remained attractive to global tech firms due to its pool of talent in the creative and tech sectors, many of whom have come from Europe and further afield.







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