Snap is paying Google $400M a year for cloud services

Over the next five years, the company behind Snapchat will pay Google at least US$2 billion in cloud bills.On Thursday, Snap revealed in a filing with the US Securities and Exchange Commission that it signed a five-year contract to pay Google at least $400 million a year for cloud services. That's a steep figure, considering that Snap made roughly $404 million last year. In return for the massive commitment, Snap will receive reduced pricing, though it’s not clear how deep the company