Mar
03
NBC Universal Invests $500 Million in Snapchat at IPO
Posted in: Uncategorized
NBC Universal invested $500 million in Snap Inc. on Thursday as part of the social-media company’s initial public offering.
“This is a significant milestone in our growing partnership with Snap, and we look forward to participating in Snap’s success as an investor and continuing to work closely with them for years to come,” NBCU CEO Steve Burke said in a note to employees on Friday.
NBCU bought shares of Snap at $17 a share before they traded on the open market. After trading open, shares soared to $25 a share.
Post a Comment