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Technology and the Internet

Snapchat company starts trading at $24 a share

The New York Stock Exchange minutes before shares of Snap Inc. began trading.
The New York Stock Exchange minutes before shares of Snap Inc. began trading.
(Carolyn Cole / Los Angeles Times)
By Paresh Dave
 and Samantha Masunaga
Associated Press
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Snap Inc. started trading Thursday morning at $24 a share in the Los Angeles company’s stock market debut.

The company priced its shares Wednesday at $17 apiece. The opening price is a 41.2% bump from that.

Shares quickly jumped, trading as high as $25.42 less than an hour after the debut.

Snap’s market capitalization is about $33 billion.

Live updates: Follow along for full coverage of Snap’s IPO

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Technology and the Internet
Paresh Dave

Paresh Dave was a Los Angeles-based tech reporter for the Los Angeles Times from May 2013 to September 2017. He focused on business issues surrounding local tech companies, the digital media industry, e-sports and video games and occasionally cybersecurity. Dave previously covered the criminal courts system, national tragedies and sports business. He graduated from the University of Southern California and grew up in San Diego.

Samantha Masunaga

Samantha Masunaga is a business reporter for the Los Angeles Times. She’s worked at the paper since 2014.

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