Snapchat Is Making the UK Its International Headquarters The move is unusual for a U.S.-based tech firm.

By Lara O'Reilly

This story originally appeared on Business Insider

AP Photo/Jae C. Hong via Business Insider
Snap CEO Evan Spiegel.

Snap, the parent company of Snapchat, has chosen to base its international headquarters in the UK, the Financial Times first reported on Tuesday.

The move is unusual for a U.S.-based tech firm. Companies including Facebook, Uber and Google have chosen other European countries including Ireland and the Netherlands as their international base to take advantage of lower corporation tax rates.

Snap confirmed it would not be routing sales made in the UK through other European countries for tax reasons, saying sales in countries where Snap does not have a local office or salesforce would also be booked in the UK.

Claire Valoti, the general manager of Snap Group Limited in the UK, said in a statement: "We believe in the UK creative industries. The UK is where our advertising clients are, where more than 10 million daily Snapchatters are and where we've already begun to hire talent."

Snap first opened its UK office in 2015, and it now has 75 staff members there, many of whom have been hired from rival tech firms. Valoti was hired from Facebook at the end of 2015, and other recent hires include Ricky Leatham from Amazon, who leads the UK engineering team, and Andy Pang, who joined from Instagram to lead the company's measurement division in the region.

Snap Group Limited resides in a three-floor office in London's Soho neighborhood, but the company says it is set to open an additional site nearby.

Snap confidentially filed paperwork with the U.S. Securities and Exchange Commission last year to go public in 2017. The company is seeking a valuation of $20 billion to $25 billion, a source familiar with the matter told Business Insider in November.

Lara O'Reilly

Contributor

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Social Media

With This LinkedIn Algorithm Change, Your Best Posts Could Reach New Readers for Months

It's one of many new features rolling out on the platform in 2024.

Business News

What's Open on Easter Sunday? Costco and Target Will Close, But One Major Retailer Will Be Open. Here's What To Know.

The stock market was closed for Good Friday on April 18. Here's what's closed for Easter Sunday, April 20.

Leadership

Lead From the Top: 5 Core Responsibilities of a CEO

Knowing exactly what the chief executive's role entails is critical for steering a company to success.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Living

Inspired by the Masters? Bring Your Work Hustle to the Golf Course with Mind Caddie, Now $99.99.

If the Masters made you realize that your game needs work, check out this performance coaching audio app.

Side Hustle

This Couple Started a Side Hustle to Improve a 'Terribly Made' Bathroom Essential. Now the Business Earns More Than $3 Million a Year.

Michael Fine and Lisa Schulner-Fine launched lifestyle brand Quiet Town in 2016 and have been growing it ever since.