Snap Prices I.P.O. at $17 a Share, Valuing Company at $24 Billion
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A sign at the New York Stock Exchange in October directed passers-by to Snapchat, whose parent company, Snap, will begin trading on the exchange on Thursday. CreditMichael Nagle/Bloomberg
Millennials, those 14 to 35 years old, may be as exuberantly hyped a demographic as any in recent memory.
That generation has now helped power one of the biggest and most eagerly awaited stock market debuts in recent memory, making billionaires of the founders of the disappearing-message service Snapchat.
Investors, attracted by Snapchat’s hold on its millennial users — who check the app on average more than 18 times a day — flocked to the initial public offering, pushing the parent company, Snap Inc., to a valuation of nearly $24 billion…
Snap Prices I.P.O. at $17 a Share, Valuing Company at $24 Billion
