The first daylight on the New york stock exchange Snap inc. share surged into 44% at the regular stock Snap $24.48 in the regular session, valuing the company at over $34 billion Demand reportedly outstripped the supply of 300 million shares by tenfold. Investors had priced the shares at $17 late on Wednesday, above the initial $14 to $16 Snap had been seeking, Snap is the latest startup to mint millennial billionaires, making co-founders Evan Spiegel, 26, and Bobby Murphy, 28, worth about $5.4 billion each. That’s paltry compared to Mark Zuckerberg, whose worth rose to $19.3 billion when Facebook IPO’d, but it far outpaces what other major tech tycoons bagged when they took their startups to Wall Street. Snapchat is now Snap Inc.
Source: nypost Official website