Snapchat’s IPO—that is, Snapchat’s initial offering of stock—turned into quite the payday for one private school in California.
In 2012, a dad convinced the school to invest $15,000 of their precious endowment in the company during its seed round (a private stage of investment before any public stock offering).
According to Bittrader, this year, when Snapchat went public, that $15,000 in stock had a new value. Ready for it? $41,000,000. They immediately sold $24 million of that stock, and are holding onto the rest.
There’s really only one thing left to say. You guessed it: oh, snap!
P.S. You don’t have to have Snapchat stock to get rich. You can also use it to learn! Our new Snapchat account is your destination for a “day in the life” of a young entrepreneur. Snap us to learn from the best!