What Time Is The Snap IPO Expected to Begin Trading?

Snap IPO Lock Up Period Said To Be 12 Months Why So Long

Snapchat parent Snap Inc. priced its share offering Wednesday to give the popular social network a market value of some $24 billion, media reports said.

Snap's social media app has 158 million average daily active users as of Q4 2016.

Both leaks come during the week Snap Inc. officially went public on the New York Stock Exchange, trading up at 48.4 percent, according to Reuters.

The parent company of social media phenomenon Snapchat has priced its shares at $17 each, valuing the firm at nearly $24bn and making it the biggest U.S. tech float since Chinese giant Alibaba in 2014. The index of the largest US stocks also set an all-time record, with the Dow gaining over 1,000 points in just five weeks for the first time. In November, it expressed hopes for a valuation in the $20-25 billion range.

You may be curious about the buzz surrounding Snap Inc.'s IPO, but should you snap up this tech stock on Day 1?

While Snap's IPO boosted the net worth of other Snapchat executives, it pales in comparison to the founders' newfound riches.

Facebook's IPO in 2012 at $38 per share valued the company at $104 billion (it's now worth almost $400 billion).

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The young company saw user growth slow to a halt in the final months of previous year, according to its original IPO filing last month.

It's looking like Sacca really missed out on this opportunity, but he's done well with other risks, like investing in Twitter, Uber and Instagram early on.

Snapchat's parent company is expected to be valued at about $24 billion in its IPO, setting a high bar bar for a company that lost $515 million previous year.

But in the hot stock market the day after President Trump's pro-growth speech to a joint session of Congress, Snap was able to raise another $200 million.

What's more, Snap shares carry no voting rights, so if investors don't like the management they can't vote them out.

Snap is easily the biggest tech IPO since Alibaba debuted in 2014, although it is still dwarfed by the Chinese e-commerce giant's initial market value of $231 billion. Snapchat makes some money from ads, and their newly released special glasses, Spectacles - though the product hasn't made much of an impact on the bottom line.

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