23 Yr Old Snapchat CEO Turns Down 3 Billion Offer From FB

[nazdrowie]

High school makes $24 million from Snap IPO

By The Associated PressMarch 3, 2017 6:57 am

SAN FRANCISCO (AP) — A California high school has made millions of dollars from the initial public offering of shares in Snap Inc., the company behind the Snapchat photo messaging application.

The board of the Saint Francis high school in Mountain View agreed to invest $15,000 in seed money in Snap in 2012, when the company was just getting started.

They had been invited to do so by one of the student’s parents, a venture capital investor, the high school president says in a letter issued to the school community Thursday.

The school held onto the investment until this week, when Snap shares sold for $17 each in an IPO. The share price rocketed another 44 percent higher when trading began Thursday.

The school was quoted by media including website Quartz as saying they sold two-thirds of their shares at $17 each, to raise $24 million.

“The school’s investment in Snap — which this morning announced the completion of its IPO — has matured and given us a significant boost,” said the high school president, Simon Chiu, in the letter.

http://wtop.com/education/2017/03/california-high-school-makes-24-million-from-snap-ipo/

 

[3am scholar]

My limit order of 500 shares @2.00 is still pending.

 

[Bert.]

I don't get how you would have gotten it that low

Maybe I don't understand but how does $15k turn to 24 million? Obviously what thy had purchased wasn't IPO so how is that related to this

 

[antidope]

I don't get how you would have gotten it that low

Maybe I don't understand but how does $15k turn to 24 million? Obviously what thy had purchased wasn't IPO so how is that related to this

Welcome to the world of venture capitalism.

To keep it as simple as possible they paid 15,000$ and in return they would receive 2.0 million shares of Snapchat when they went public.

Snapchat goes public at 17$ and they sell 1.4 million shares at that price, 23.8 million dollars.

 

[nazdrowie]

Welcome to the world of venture capitalism.

To keep it as simple as possible they paid 15,000$ and in return they would receive 2.0 million shares of Snapchat when they went public.

Snapchat goes public at 17$ and they sell 1.4 million shares at that price, 23.8 million dollars.

wouldn't the school technically be an angel investor? i thought VC was a lot higher, like millions...

not that it makes a difference, i just learned all these terms from sitting in on a lecture earlier this week 

 

 

[antidope]

Welcome to the world of venture capitalism.


To keep it as simple as possible they paid 15,000$ and in return they would receive 2.0 million shares of Snapchat when they went public.


Snapchat goes public at 17$ and they sell 1.4 million shares at that price, 23.8 million dollars.

wouldn't the school technically be an angel investor? i thought VC was a lot higher, like millions...

not that it makes a difference, i just learned all these terms from sitting in on a lecture earlier this week   

They all fall under the same umbrella this was a deal done by a VC firm so I personally wouldn't consider it to be angel investing. Total deal was for 500k also, the school just put up 15k

While on that subject though I'd be willing to bet that the school sold those shares back to the VC firm for the IPO price, school lowkey got ripped off if they were really were interested in taking their exposure off the table but those are just assumptions.

 

[finessesosa]

Yeah I said the same thing that the school got jerked on the low

 

[アミーゴ]

Really good kids, going to do a lot of good with it.

 

[Bert.]

I don't get how you would have gotten it that low

Maybe I don't understand but how does $15k turn to 24 million? Obviously what thy had purchased wasn't IPO so how is that related to this

Welcome to the world of venture capitalism.

To keep it as simple as possible they paid 15,000$ and in return they would receive 2.0 million shares of Snapchat when they went public.

Snapchat goes public at 17$ and they sell 1.4 million shares at that price, 23.8 million dollars.

I wish someone offered me that back in the day :x

 

[antidope]

Looks at earnings....

 

[putting in work]

Looks at earnings....

I was wondering how this app planned to make money.

I was like hell nah when they came out with those stupid snap glasses

Maybe they have a trick up their sleeve or something.

 

[dathbgboy]

So users =/= money, who knew?

 

[slighted]

 

Looks at earnings....

I was wondering how this app planned to make money.

I was like hell nah when they came out with those stupid snap glasses

Maybe they have a trick up their sleeve or something.

Twitter will buy Snap --> new company will be called SnapTitty

 

[ksteezy]

Snap should have sold, Facebook is a social media Titan, snap dude shoulda called Tom for some advice.

 

[tay1]

I don't expect Snap to fade away anytime soon, but I don't see what else they could offer

 

[sharpshooter718]

Selling info is big business

 

[jewseejay]

Ecool abandon ship yet?

 

[johnnyredstorm]

Cool app, terrible business.

 

[703 hwy]

Snap gotta bring back da timer b

 

[wayniac211]

 

[Original Playa Records]

It's weird, some days Snaps cool, some days its dead.

 

[dman14]

tried using this and dont get it. just watching people?

 

[water]

It's weird, some days Snaps cool, some days its dead.

 

[slighted]

Didn't IG just release some doggie/flower crown/face filters?

FB killing Snap slowly but surely

 

[water]

 
Didn't IG just release some doggie/flower crown/face filters?

FB killing Snap slowly but surely

yeah they added face filters recently 

Snap really is dying 

reminds me of vine

insta stole everything