Evan Spiegel has already made $1.5 billion off Snapchat's IPOon March 2nd, 2017
Evan Spiegel was already a very rich man. But by the end of the day today, he'll be an even richer man.
Snap, Inc. — the company behind Snapchat — started trading Thursday morning in its initial public offering at the New York Stock Exchange. Going public means that $SNAP can start publicly trading as a stock, meaning you can go buy some right now. Before, the company was privately held, meaning there was no public market to buy and sell Snap shares.
Snap shares jumped almost immediately after they started trading, adding 41 percent (as of lunchtime in New York). That means Spiegel's stake in Snapchat increased in value by a cool $1.5 billion, according to Bloomberg. Read more...More about Evan Spiegel, Snap Inc, Snapchat, and Business
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