Oh, snap! Snapchat is the hottest new thing to hit the stock market.
Snap (SNAP), which defines itself as a “camera company,” initially offered shares starting at $17, opened today at $24, and topped $25 in early trading.
The bigger picture: Snap absolutely crushed it’s prospected valuation for 2017 and is now valued at about $33 billion. This officially makes the social media platform worth 3x as much as Twitter (TWTR, Tech30), according to CNN.
Snap is the biggest U.S. tech company to go public since Facebook (FB, Tech30) in 2012.
But, why do we love Snapchat so much?
It’s personal…
Not only do we receive real-time updates from our best friends, but also our favorite artists. Behind-the-scenes, while on tour, and throughout everyday life, artists like Skrillex, Zeds Dead, and Diplo are snapping right along with us.
It’s battling fomo…
When you can’t make it out to a show or festival, you know your buds will have your Snapchat back. Sure, it’s better to see it live, but Snaps are then next best thing.
It’s like a digital scrapbook…
Snapchat videos are the perfect way to capture the 10-second moment or the perfect drop, while not wasting too much time on your phone. And, let’s be honest… How many times have you looked back on your story to remember exactly where the night took you?
via CNN