Looking to buy stocks? Snap Inc. may be worth your investment.
On Wednesday, Mar. 1st, Snapchat – owned by Snap Inc. – went public, selling 200 million shares starting at $17 per stock, “the largest U.S. IPO since 2014,” Market Watch reported.
Its initial, “guide price of $17,” rose to an, “opening price of $24,” said The Guardian.
“The stock closed at $24.48,” leaving the company with a, “market value of $28.3bn, on a par with CBS and Target,” The Guardian continued.
Snapchat is most popular amongst teenagers, as Hootsuite Blog wrote, “18- to 24-year-olds,” make up 37 percent of overall Snapchatters.
Statistically, Hootsuite Blog continued, the app has, “more than 100 million people [that] do use it every day (spending an average of 30 minutes a day inside the app), and there are 200 million active users worldwide.”
What’s so addicting about this simple-made app?
Within Snapchat, users can take photos and send them to people they have added to their friends lists – whether that be someone said person knows in real-life, or an Internet friend.
Not only do users use the app to socialize, the original feature of it, but, “The content [also] ranges from a mini TV series with three-minute episodes, to slideshows and articles, which users can browse through by tapping their screen,” CNBC started.
This content is included in the “Discover” section where ads are also played, and as for the payout, “Snap paid nearly $60 million to its media partners last year,” CNBC continued, “from less than $10 million in 2015.”
As Facebook dies down with younger generations, Snapchat takes its lead, now with stocks, too.