{"id":3887,"date":"2017-03-03T23:26:50","date_gmt":"2017-03-03T23:26:50","guid":{"rendered":"https:\/\/www.rsoftsolution.com\/blog\/snap-stock-finishes-up-44-on-first-day.html"},"modified":"2017-03-03T23:26:50","modified_gmt":"2017-03-03T23:26:50","slug":"snap-stock-finishes-up-44-on-first-day","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/snap-stock-finishes-up-44-on-first-day.html","title":{"rendered":"Snap stock finishes up 44% on first day"},"content":{"rendered":"


\n<\/p>\n

Snap, the parent company of Snapchat, had a great day in its debut on the New York Stock Exchange.\u00a0After pricing the IPO at $17 per share\u00a0yesterday, the stock opened at $24<\/a>. It then closed the day at\u00a0$24.48, a 44 percent premium to the people who bought it yesterday.<\/p>\n

But like with all IPOs, not everybody got to access Snap\u2019s IPO price<\/a>. This is usually reserved for a smaller group of institutional investors and high-net worth individuals who are on good terms with the banks. Most investors didn\u2019t have a chance to buy until today, so the gains for them are much smaller.<\/p>\n

The debut draws more similarities to Twitter\u2019s<\/a>, which went public in 2013. The company saw a solid first day of trading, but then saw a lot of volatility in the following months. Facebook, on the other hand, had a rough first day as a public company, with the share price closing exactly where it opened (companies normally try to price it so it goes up about 20 percent on the first day). But then the company flourished on the stock market over time.<\/p>\n

Snap went public at what was an interesting point in the company\u2019s history. Unlike many companies, like Uber and Airbnb with sky-high valuations, Snap decided to go public earlier in its monetization, probably because it\u2019s better to go public before the market considers the company overvalued.<\/p>\n

Yet Snap is entering the markets\u00a0at a time when growth has slowed, possibly due to Instagram copying its \u201cstories\u201d feature. And while revenue is quickly growing, they are also significantly unprofitable.<\/p>\n

Hemant Taneja, an early investor in Snapchat and managing director\u00a0at General Catalyst, said he was excited about Snapchat\u00a0early on because of the \u201crichness of innovation.\u201d He saw that founder Evan Spiegel was \u201cdetermined to make technology work for us, rather than change behaviors necessarily \u2014 like with ephemeral nature of communications.\u201d<\/p>\n

Unlike Facebook, Snapchat\u2019s images disappear by default, a feature that baffled many people initially. But it proved to be popular and today\u2019s debut on the stock market is a pivotal moment in technology history.<\/p>\n

<\/p>\n

Featured Image: Drew Angerer\/Getty Images<\/small><\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunch\/social\/~3\/0tJ7haO9zUA\/<\/p>","protected":false},"excerpt":{"rendered":"

Snap, the parent company of Snapchat, had a great day in its debut on the New York Stock Exchange.\u00a0After pricing the IPO at $17 per share\u00a0yesterday, the stock opened at <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[10,7,14,15,6,12,11],"class_list":["post-3887","post","type-post","status-publish","format-standard","hentry","category-latest-update","tag-computer-news","tag-downloads","tag-microsoft-download-news","tag-networking-updates","tag-technology-update","tag-wordpress-plugin-download","tag-wordpress-theme-download"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t