SANTA MONICA—The multimillion-dollar company Snap Chat which employs over 3000 people according to Bloomberg, will celebrate its staff in Santa Monica. Snap Chat has sponsored a party every year for its employees and their families.
TMZ reported that Snap Chat will be taking over the Santa Monica Pier on Saturday, June 16 from 11 a.m. to 5 p.m. Canyon News reached out to Snap Chat, but did not hear back before print.
Yahoo! Finance estimates to rent the whole two acres of the Pier to cost around $100,000. This does not include the price of the vendors. The company will cover the price of food and open bars for their employees. Snap Chat will also be covering Ubers to and from the venue for all attendees.
As reported by Pymnts and Fortune, Snap Chat laid off around 100 employees to focus on advertising in 2017. The company is planning to cut another 7 percent to cut back on company expenses. These cuts continue to be made to save an average of $34 million for the social media company.
Snap Chat, a multimedia message app was started in 2011 by Evan Spiegel, Bobby Murphy and Reggie Brown who all attended Stanford University. Snap Chat is known for allowing pictures and message to appear for a short time before disappearing.