This is what Snap is paying Google $2 billion for
#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 #AmazonWebServices ’ $12.2 billion and #MicrosoftAzure ’s estimated $2.7 billion. (Snap also has a $1 billion contract with #AWS.) But what is Snap actually getting from Google for all that money? Google wouldn’t say exactly which services Snap has signed up for, but there are four key products that fall under Google’s cloud services: Cloud Storage for storing data on servers managed by Google; Compute Engine for retrieving and managing data; App Engine for developing and running applications; BigQuery for data analysis; and a suite of machine learning tools.