This is what Snap is paying Google $2 billion for

The social media company has a huge contract with Google Cloud Platform. But what does that mean?

Snap, which is set to IPO this week, signed a $2 billion, five-year contract with Google for its cloud services, which makes Snap Google’s largest customer of its cloud platform.

For context, Google’s cloud business was previously estimated to have an annual runrate revenue of about $1 billion, according to RBC Capital Markets analyst Mark Mahaney, trailing Amazon Web Ser

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