Snapchat IPO: How Snap Just Ran Away With 29 Billion
Supermodel Miranda Kerr (and fiancé to Snapchat CEO, Evan Spiegel) taking a selfie with friends at the NYSE opening bell as Snap Inc. celebrates its IPO
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Snap Inc. is officially a 29 billion dollar publicly traded company. Snapchat closed out their first day on the New York Stock Exchange on a high.
Snap stock is already up 44 percent at $24.48 per share and doesn't appear to be slowing down.
Snapchat co-founders, Evan Spiegel and Bobby Murphy, each sold 16 million shares in the IPO, generating $272 million dollars.
Based off of the first day of Snap's stock price, the two co-founders of Snapchat are each worth around $5.2 billion.
Instagram: Miranda Kerr
Not Everyone Made Off With Millions From Snapchat's IPO
Billionaire Investor and Western Shirt aficionado, Chris Sacca was short to announce how he himself missed on Snapchat's opportunity back in 2012.
Chris Sacca posted an email to his Twitter showcasing an old email from 2012 from Snap co-founder Bobby Murphy trying to set up a meeting between the two.
Back in 2012, Snap Inc. was only around $0.11 per share.
As of March 2nd, 2017, Snap Inc. is traded for 200 times that price.
Snapchat's IPO Compared To Past Tech IPOs
Many are saying that Snap could be the next Facebook. As of right now it's too early to gage how Snapchat will do as a public stock.
Here is a comparison between Snapchat and it's peer's on their first day on the New York Stock Exchange.
Snapchat
- Went public on March 2nd, 2017
- Initially opened at $24 per share
- Closed the first day at $24.48 per share
- Initial Value Of Snapchat: $29 billion dollars
- Went public on May 18, 2012
- Initially opened at $38 per share
- Closed the first day at $38.23 per share
- Initial Value Of Facebook: Almost $16 billion dollars.
- Went public on November 7th, 2013
- Initially opened at $26 per share
- Closed the first day at $44.90 per share
- Initial Value of Twitter: $1.82 billion dollars
Alibaba
- Went public on September 19th, 2014
- Initially opened at $68 per share
- Closed the first day at $93.89 per share
- Initial Value of Alibaba: $21.77 billion dollars
- Went public on May 19th, 2011
- Initially opened at $45 per share
- Closed the first day at $94.25 per share
- Initial Value of LinkedIn: $352.8 million dollars
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