The latest
The value of Snapchat’s owner has soared in its New York stock exchange debut.
A flotation valued the company at $24bn (£19bn).
They began trading at $24 per share, representing a 41 per cent increase on the initial offer price.
The main question for investors ahead of Initial Public Offering (IPO) was whether Snap represented a good financial bet.
Shares were offered at the top end of the range at $17, this was good indicator of strong interest.
It’s currently 39 per cent down on its offer price, growth and other metrics are proving disappointing to investors.
Leave a Commment