Written by The Business Journal Staff
(AP) — Snapchat’s owner is making new friends on Wall Street but its Los Angeles neighbors aren’t putting any filters on their anger.
About two dozen protesters gathered Thursday near the Venice Beach headquarters of Snap Inc. shortly after shares began trading on the New York Stock Exchange.
The Los Angeles Times says they carried signs complaining about Snap’s corporate presence, such as: “Snap killed Mom and Pop.”
Locals see the company as threatening their colorful, artsy neighborhood near the Venice boardwalk.
Since arriving in 2013, Snap has bought a home, shops and an apartment building, converting them into guarded offices. Locals also fear rent hikes.
According to KABC-TV, a Snap statement says it’s tried to be a good neighbor but didn’t anticipate such rapid growth and is focusing future growth outside of Venice.