In California, a high school earned $ 24 million on startup shares
Photo: depositphotos.com
A high school in California earned millions of dollars by investing in a startup startup Snap, which owns the Snapchat application, which on Thursday placed its shares on the New York Stock Exchange.
In 2012, the council of St. Francis High School in Mountain View, on the advice of the parent of one of the students, agreed to invest $ 15 thousand in the starting capital of a company that was just starting its development.
On Thursday, the school sold 2 / 3 its stake in the company for $ 24 million, when $ 17 was given per share.
The Snapchat service was created in 2011 by Stanford University students Evan Spiegel, Frank Brown and Bobby Murphy. The service allows you to exchange messages that contain photos, videos and text, and after viewing, they are instantly deleted from users' devices.
The number of weekly network users exceeds 158 million people. They create 2,5 billion “snaps” every day - instant messages with an attached photo or video.
The company's revenues in 2017 are expected to exceed $930 million, France-Presse cites an estimate from the venture capital company Goodwater Capital. The company notes that Snapchat has a great chance of making money in the global advertising market.
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