Analysis

4 Takeaways From Snap's Blockbuster IPO

Law360, New York (March 2, 2017, 7:52 PM EST) -- Snapchat maker Snap Inc.'s long-awaited $3.4 billion initial public offering lived up to hype Thursday, generating a 44 percent opening-day surge in share price and injecting energy into a slow-moving IPO market that is beginning to perk up.

Shares of Snap rallied to close at $24.48 Thursday on the New York Stock Exchange. The robust debut came one day after the company sold 200 million shares at $17 each, beating its earlier forecast of $14 to $16 and giving the social media darling a roughly $24 billion valuation.

Snap's massive IPO, steered by Cooley LLP, marked the largest technology offering since Chinese e-commerce...

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