Snap Co-Founders Score $3 Billion Gain on First-Day Trading Pop

Snap Co-Founders Score $3 Billion Gain on First-Day Trading Pop

That's far, far, and away above the price Snap set last night, $17 per share, when the company raised $3.4 billion - a 44 percent increase.

Although Snap is going public at a much earlier stage in its development than Twitter or Facebook, the five-year-old company is valuing itself at almost 60 times revenue, more than double the 27 times revenue Facebook fetched when it went public in 2012.

A private high school in California earned millions from the Snap Inc. public offering, after two students told their dad about the popularity of the app five years.

Fernando Torres stretchered off after sickening head clash
As Torres was loaded into an ambulance and rushed to hospital, one Atleti player was even shown in tears as the terrifying incident unfolded.

Snapchat was launched in September 2011 and the Snap IPO is billed as the third-biggest tech IPO ever in USA stock market history. The six-year-old startup, beloved by millennials, is the biggest US tech company to go public since Facebook, which was worth $104 billion at its 2012 IPO.

That's a remarkable open since new issues typically see a lot of see-sawing on the first day as investors weigh demand for the stock against the company's actual business.

You could argue Snap's underwriters priced it too low at $17 a share after it traded most of today between $24 and $25. The amount implies a multiple of about 21.4 times EMarketer's estimate for Snap's 2017 advertising sales. Not just the school, others too have become uber-rich courtesy Snap IPO and among them are the co-founders. Snapchat's IPO is the first amongst the startups and leads way for other overheated startups.

A Sweet Way to Test for Pee in the Pool?
Analysis of more than 250 samples from 31 pools and tubs from two Canadian cities showed ACE in all samples . Then they tracked the levels of this sweetener in two public swimming pools over a period of three weeks.

Along with all his money, Spiegel and his co-founder will maintain control of the company. The company says that an average of 158 million people use Snapchat each day.

Of course, the story of Twitter's stock doesn't have the happiest ending - after selling for $26 a share during its IPO, Twitter stock took a big dip and now sells for less than $16 a share.

Of course, it's not clear how many friends bought in, and in what size, and how their buys compare to those of "certain institutions" or existing investors that Snap might have sold the shares to instead. James Gellert, chief executive of the analysis firm Rapid Ratings, expects Snap will crackle with a post-IPO pop, thanks to tech-focused investors hungry to get their hands on something new.

David Haye warns Tony Bellew to 'enjoy last days' before heavyweight bout
I'm a prizefighter, I get paid to do what I do". "You'll see what happens to a guy who doesn't deserve to be in a ring with me". I guess the British boxing public would still purchase the fight, but I don't think it would be a good fight at all.

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