The parent company Snapchat, Snap. Inc has ficially hit the market yesterday with their IPO and I guess you could say that everyone’s expectations were exceeded. If you don’t know what IPO means, it’s basically when a particular company goes public and gives anyone in the free market a chance to buy shares the company. Well, shares Snap Inc. were at first valued at $17 a piece, but the company started its trading at $24 a share.
During the course the day, its stock went as high as $26.05, but the day ended with each share priced at $24.48, which means that Snap. Inc is currently worth approximately $28 billion. Considering how well things went yesterday, it’s safe to say that everyone’s worries went away, because many people thought that Snap would not do well at the IPO, seeing as recently it has seen a slow in its user growth, after Facebook and Instagram decided to launch features similar to the company’s.
Now, we’re looking forward to see how things will go down in the future for Snap. Inc.