Snap inks USD 3 bln cloud, storage deals with Amazon, Google

Nieuws Breedband Wereld 10 FEB 2017
Snap inks USD 3 bln cloud, storage deals with Amazon, Google

Snap said it will pay Amazon at least USD 1 billion for internet, cloud and infrastructure services over the next five years, adding to a USD 2 billion agreement it has also signed with Google, Bloomberg reported, citing an update to Snap’s IPO documents. Snap will pay Amazon USD 50 million in 2017 and then spend progressively more through 2021. In the filing, Snap says it may still build its own infrastructure.

For its IPO, the company is seeking a valuation of up to USD 25 billion.

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