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And while revenue is quickly growing, they are also significantly unprofitable. Yet Snap is entering the markets at a time when growth has slowed, possibly due to Instagram copying its “stories” feature. Unlike many companies, like Uber and Airbnb with sky-high valuations, Snap decided to go public earlier in its monetization, probably because it’s better to go public before the market considers the company overvalued. Snap went public at what was an interesting point in the company’s history. But then the company flourished on the stock market over time. 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). The company saw a solid first day of trading, but then saw a lot of volatility in the following months. The debut draws more similarities to Twitter’s, which went public in 2013. Most investors didn’t have a chance to buy until today, so the gains for them are much smaller. This is usually reserved for a smaller group of institutional investors and high-net worth individuals who are on good terms with the banks. It then closed the day at $24.48, a 44 percent premium to the people who bought it yesterday.īut like with all IPOs, not everybody got to access Snap’s IPO price.
Snap, the parent company of Snapchat, had a great day in its debut on the New York Stock Exchange. After pricing the IPO at $17 per share yesterday, the stock opened at $24.
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