Snapchat stock soars 44% on 1st day to value firm at $28 bn
Snapchat's parent company Snap which launched its IPO on Thursday saw shares surge by 44% on their first day, taking the company's value beyond $28 billion. Snap's market value of $28.3 billion at closing time is on a par with television broadcasting giant CBS. Interestingly, the net worth of Co-founders Evan Spiegel and Bobby Murphy soared to $5.3 billion each.