Snapchat IPO 4th Largest Tech Deal

Snap Inc.’s initial public offering is one of the largest among information technology companies in history. Shares opened at $24 and traded as high as $25.42 per share, and comprised of 200 million Class A shares. Snap realized proceeds of $3.4 billion from its offering. This transaction ranks as the fourth-largest information technology company IPO in the U.S. ever and the largest since Alibaba Group Holding Limited’s $21.8 billion transaction in September 2014.