Thursday, March 2, 2017

Snapchat Worth Around $30B After Successful NYSE Debut

This is absolutely astounding. ­čśľ

"After months of planning, Snap — the company behind Snapchat — has officially debuted on the New York Stock Exchange, and things are apparently going well. The Washington Post reports that Snap — which now uses ticker symbol SNAP — began trading at $24 a share beating expectations prior to the debut and giving the company a valuation of $28 billion. The stock is currently trading at nearly $26/share, boosting Snaps market cap to just shy of $30 billion. Barring some drastic change of fortune in the final hours of trading, that’s a good first day."