logo-loader

Snap Inc shares top $27 after NBCUniversal pledges $500mln investment

Last updated: 10:09 03 Mar 2017 EST, First published: 05:09 03 Mar 2017 EST

Comcast_486160993
Comcast's NBCUniversal invests $500mln in Snap Inc

Shares of Wall Street debutante Snap Inc (NYSE:SNAP) owner of the popular vanishing messenger Snapchat, jumped more than 10% on Friday as the first full day of trading saw NBCUniversal take a strategic stake in the enterprise.

NBCUniversal said in a memo to employees it made a “strategic investment” of $500mln in Snap.

NBCUniversal, a subsidiary of Comcast Corporation (NASDAQ:CMCSA), has partnered with the company prior to its IPO, including a partnership to feature Olympic games content.

Snap made its highly anticipated market debut Thursday – at around 1100 ET after listing delays - with a 48%r rise from its $17 listing price.

Snap shares were up 10.7% at $27.09, its highest level so far, on Friday.

Ramp Metals Launches Drilling Program in Pursuit of High-Grade Nickel in...

Ramp Metals CEO Jordan Black joined Steve Darling from Proactive to introduce the company to the public domain and share exciting developments in the mining industry. With a background as a geotechnical engineer and experience in venture capital, including a notable role in taking GoldSpot...

1 hour, 5 minutes ago