Thursday, February 2, 2017

Snap Went From 600 to 1,859 Employees In One Year

Among the massive trove of information in Venice, California-based Snap Inc.'s IPO filing on Thursday is the tidbit that the company more than tripled its number of employees in the last year, going from 600 full time employees on December 31, 2015, to 1,859 as of December 31, 2016. The company said in the S-1 that it expects headcount to grow in the foreseeable future. Snap reported revenues of $404.48M in revenues for the year ended 2016, and total costs and expenses of $924.86M--much of that due to the huge increase in staffing for the company. Despite the surge in employees, Snap actually isn't the biggest Southern California technology firm in terms of employee growth during 2016--earlier this year, Santa Monica-based TaskUs said it had hired an astounding 5,300 employees in 2016, bringing its total up to 2017--although the vast majority of TaskUs's employees are in the Phillippines rather than its Santa Monica headquarters.

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