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Friday, 03 March 2017 - 6:45
Snap chat firm share soars on debut
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Shares in Snap, owner of messaging app Snapchat, began trading on the US stock market on Thursday.

At the close of trade shares were $24.48 each, a jump of more than 40%.

The flotation valued the company at $17 a share, or $24bn in all, although Snap has never made a profit.

The firm's initial public offering is the biggest for a US tech firm since Facebook in 2012 and will turn the company's founders, Evan Spiegel and Bobby Murphy, into multi-billionaires.

 

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