Cloud cost “reduction rush” hits Google and Amazon directly. Snap is reviewing its deal, Twitter is negotiating

Led by Amazon Web Services (AWS), the cloud infrastructure market share leader, cost revisions by large companies are beginning to have a significant impact on the revenue growth rate of cloud providers.

Snap, the company behind the photo-and-video sharing app Snapchat, is reassessing its spending on cloud services as part of an effort to cut costs as it struggles with sluggish revenue growth.

Derek Andersen, the company’s Chief Financial Officer (CFO), mentioned at a business briefing for investors held on February 16 that efforts were made to reduce infrastructure costs, which account for the largest share of expenditures next to personnel costs.

For the cloud service you are using, see “Reviewed and updated contract details for lower prices and better use of partnerships with providers”It revealed that.

Snap went public on the New York Stock Exchange (NYSE) in 2017. From the information disclosed in the application documents submitted at that time, it is clear that the company has entered into cloud service agreements with Google Cloud and Amazon Web Services (AWS).

Source: BusinessInsider

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