Executives from Snap Inc. (NYSE: SNAP) parent company of video app Snapchat, rang the opening bell on the New York Stock Exchange Thursday, to commemorate their first day of trading. Evan Spiegel, CEO and Co-Founder and Bobby Murphy, Co-Founder, represented the company at the 9:30 stock market opening.
Snap’s initial public offering of 200 million shares of Class A common stock started at a price to the public of $17 per share, for a total offering size of $3.4 billion. Trading for the company, that has 100 million daily users, opened at $24 per share at 11:20 AM Eastern Standard Time .
Morgan Stanley, Goldman, Sachs & Co., J.P. Morgan, Deutsche Bank Securities, Barclays, Credit Suisse and Allen & Company LLC are acting as book-running managers for Snap’s IPO.