#DespiteBrexit: How Tech Giants Flocked To Post-Referendum Britain

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By Anna Rhodes | 6:16 am, January 11, 2017

During the Brexit campaign, Britons were warned that leaving the EU would lead to Britain becoming a business wasteland where no multinational would dare invest.

But since the vote on June 23rd, companies  – especially from the high-value technology sector, have kept on pouring in their cash. Here’s what’s happened:

Snapchat

Snapchat announced yesterday they would establish their main hub outside the United States in Britain – “a great place to a build a global business”.

The company employs 75 UK staff in London, and is expected to hire more. The new “hub” status means parent company Snap will book large amounts of its revenue via the British financial system.

Google

The search engine also recently bet big on Britain, confirming plans to build a ten-floor office building next to King’s Cross Station.

The building can hold some 7,000 future employees, and will also reportedly house its DeepMind AI research outfit.

Skyscanner

The flight comparison site, based in Edinburgh, was recently snapped up by Chinese tech firm Ctrip for £1.4 billion.

Despite new ownership, the company is due to remain based in the UK.

ARM Holdings

The Cambridge-based microchip firm was bought up for £24 billion by Japan’s SoftBank telecoms company.

Sealed just weeks after the referendum, the deal was hailed as proof Britain is open for business.

Facebook

The social media behemoth announced a 50% increase in its headcount in November. The company announced after the referendum vote that it would be increasing its UK headcount by 50%, hiring another 500 employees and opening new offices in 2017.

Amazon

The online marketplace continued piling money into Britain throughout 2016. In August, the company announced a new, robotic warehouse in Tilbury, Essex.

According to the Guardian, 1,500 people will be employed there.

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