Snap Inc., the parent company of Snapchat, had a stellar first day in its public debut on the New York Stock Exchange, popping 44%. The self-proclaimed camera company that began its roots as an ephemeral photo-sharing app first priced its IPO at $17 per share on Wednesday. The stock opened at $24 and closed the day at $24.51. The company’s market cap is being reported as $34 billion (fully diluted).
Many questions still remain for the future of Snap, like how it plans to grow its user base and ultimately become profitable. But investors are betting big on 26-year-old Evan Spiegel and the company’s promise of innovation. While it’s too early to know exactly what will happen to Snapchat, going public is a significant milestone. Here are 9 public companies that Snap is more valuable than on its first day as a publicly traded company.
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