A lot of people on Wall Street were very happy with Snapchat Thursday, but a lot of people in Venice were not.
At least two dozen protesters gathered outside Snap Inc.’s Venice Beach, California headquarters to protest Snap’s encroachment on the neighborhood as Snap started trading on Wall Street. Protesters worried Snap’s multi-billion-dollar success in its initial public offering, or IPO, would encourage more companies to move from Silicon Valley to the emerging Silicon Beach.
Snap moved to Venice in 2013 and since then has bought up real estate for its offices: one house, one apartment building and former retail stores. Read more…
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