By John Glenday

Snapchat owner Snap has loosened its purse strings to spend an expected $1bn on Amazon’s cloud services over the coming five years, supplementing its existing $2bn cloud contract with Google.

These mammoth sums have given Snap pause to consider investing in its own proprietary cloud infrastructure, ahead of its looming stock market flotation in March.

The expenditure plans were published just as Snap seeks to raise $3bn from investors, having been valued at up to $25bn ahead of its IPO – making it the largest stock market debut of any US technology giant since Facebook.

Snap is Read full story ›

Source: The Drum