Snapchat Sets Up Shop In Silicon Slopes
Snapchat has officially set up shop in Utah's Silicon Slopes.
The Utah Technology Council and Governor's Office of Economic Development announced Thursday that the popular image-based messaging app has finalized plans to open an office in Lehi, adding 50 new employees over the next 15 years.
Val Hale, president of GOED, called Snap Inc., the parent company of Snapchat, a natural fit for the state's tech hub in Utah County, which hosts hundreds of other tech-related startups.
"Snap acquired a Utah County-based company a few years ago and we are pleased that they have maintained strong ties to the state since then," Hale said in a press release. "Their presence in the state will be a nice addition to the state’s growing tech industry.”
The company’s expansion in Utah will focus on research and development, specifically focusing on camera technology and augmented reality, according to GOED.
The move comes on the heels of a 15 percent drop in Snap Inc.'s stock this week. That slump continued Thursday with the general slide in tech stocks.