Brocker.Org: Silicon Valley significant university will make $24 million from Snap IPO – Chicago Tribune


Bake product sales and car washes?

Not for one Silicon Valley parochial significant university that hit it huge this week and, by undertaking so, highlighted anew gaping financial disparities in the area.

St. Francis Substantial University in Mountain Perspective parlayed a $15,000 financial commitment in the company that formulated the Snapchat app into a windfall of at least $24 million, capitalizing on a exclusive undertaking money fund established up by the school’s financial commitment-savvy mom and dad.

The fund compensated off when the company commenced offering shares to the community Thursday and the university offered about one.4 million of the million shares at $seventeen each individual. It is holding the remaining seven hundred,000 shares, which ended up valued at about $19 million Friday.