Back to top

Image: Bigstock

Snapchat's $24 Billion IPO Arrives, The Biggest Tech Debut Since Alibaba

Read MoreHide Full Article

On Thursday, Snap Inc. (SNAP - Free Report) priced its initial public offering at $17 per share, coming in above the expected range of $14 to $16 per share and valuing the company at $24 billion.

This makes Snapchat’s market debut the biggest technology IPO since Alibaba (BABA - Free Report) went public back in 2014. The China-based e-commerce company currently holds the status as the world's biggest IPO at $25 billion, though it initially only raised $21.8 billion.

Snap co-founders Evan Spiegel and Bobby Murphy rang the opening bell at the New York Stock Exchange, which Snap is listed on.

Last week, Editor Maddy Johnson and Content Writer Ryan McQueeney, hosts of the Zacks Friday Finish Line podcast, previewed Snap’s IPO on their show. They were joined once again by Kathleen Smith, co-founder of Renaissance Capital, to discuss Snapchat, and if it would live up to its high, and pricey, IPO expectations.

Check it out now!

Renaissance is a provider of IPO-focused research and investment management, and has been around for 25 years. It offers separately managed institutional accounts, as well as two ETFs—the Renaissance IPO ETF (IPO - Free Report) and the Renaissance International IPO ETF (IPOS - Free Report) —as well as a mutual fund, the Global IPO Fund . 

For those investors who are interested in learning even more about IPOs, we urge you to check out Renaissance Capital. The company’s IPO ETF recently hit a 52-week high, and based on its market valuation, Snap will be a candidate for inclusion.

As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcast, and remember to subscribe and leave us a rating on iTunes.

As always, thanks for listening to this special edition of the Zacks Friday Finish Line, and check back for even more news from the investment and financial world!

Everything You Need to Know About Snapchat’s IPO Now

You may be curious about the buzz surrounding Snap Inc.'s IPO, but should you snap up this tech stock on Day 1? In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges.

You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>