Snap Pays $2B for Google Cloud Services

When Snap Inc. , the parent company of social media app Snapchat, filed its IPO paperwork with the US Securities and Exchange Commission on Feb. 2, the company unveiled a number of new details about its inner workings, including how it uses cloud computing to support its business. Specifically, Snap is paying Google and its Google Cloud Platform $2 billion over the course of the next five years for a variety of services, including storage, compute power and bandwidth.