Oct. 24, 2022 875 Howard Street, San Francisco. Google Street View Snap, the parent company of social media instant messaging app Snapchat, is closing its only downtown San Francisco office space, according to multiple reports. The 33,000 square-foot space at 875 Howard Street is the only Snapchat office space in the city. The companv, which has struggled through layoffs, restructuring and an industrywide dip in advertising dollars over 2022, says the closure comes as part of a shift toward remote work. “Our San Francisco location was lightly used by team members following our move to flexible work,” the company told Bloomberg on Friday. Founded in 2010 by Stanford classmates Evan Spiegel, Bobby Murphy and Reggie Brown, the Santa Monica-based company revolutionized instant messaging by being one of the first to incorporate augmented filters to instant, temporary photo and video messages. The platform has an estimated 363 million global daily active users. This year has seen dwindling profits at the company, that went public with a valuation of $24 billion in 2017. In August, Spiegel announced cuts of around 20% of Snap’s workforce, laying off over 1,200 employees. Last week, a third-quarter earning report revealed the company’s slowest ever quarterly growth, with…
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Snap, makers of Snapchat, shutters its 33000 square-foot downtown San Francisco office
