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Snap and Google have partnered on a new cloud storage deal

Snap and Google will be partnered for the next five years, according to Snap’s S-1 filing released last week. Completed on January 30, the deal commits Snap to purchasing $400 million in Google's cloud services annually until 2022, totaling $2 billion over the period. The new lease is a formal continuation of a partnership that began around 2013,  TechCrunch notes .  The deal is a big win for Google Cloud, as mobile video is poised to make up a larger portion of the data storage space. Snapchat users are highly engaged, with the average daily user turning to the app 18 times each day, according to Snap's S-1. And although Google doesn’t break out revenue from its cloud business, instead lumping it together with nonadvertising, which includes the Google Play store, the $400 million deal will give it a hefty annual bump. In Q4 2016, nonadvertising accrued $3.4 billion in sales. Mobile video already accounts for more than half of all mobile traffic. In 2015,...