Snap became a resident of UNIT.City

The American company Snap, responsible for the work of Snapchat messenger, opened the new office in Ukraine, which is located in Kyiv innovation park UNIT.City, the project’s managing partner Maxim Bakhmatov posted on his Facebook page. This is an R&D center.

To recap, Snap got its first office in Ukraine after the purchase of Odesa startup Looksery. The amount of the transaction conducted in 2015 amounted to $150 million (of which almost half came from premiums in the form of shares and payments). Over 200 developers work in the Snap residence in Odesa now. They are developing AR masks and related technologies.

Shares of Snap are now experiencing a fall. Since the beginning of 2018, the company’s value on the stock exchange has decreased by 55%. Now Snap’s capitalization does not exceed 7.83 billion. The number of daily active users of the service, according to the results of the financial statements for the third quarter is 186 million.