Snapchat parent company makes stock market debut

The company behind Snapchat, Snap Inc., closed the day at more than $24 a share.
1:23 | 03/02/17

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Transcript for Snapchat parent company makes stock market debut
The company behind the app that allows users to post photos and videos that disappeared Schilling has some long term plan. Snapped chats Los Angeles based parent company called snap made its much anticipated debut on the stock market Thursday. He's big on Wall Street right now because it's the first tech IPO. In a few years as it's happening it's turning out to be a really successful IPOs us. Socially successful for its co founders who are now multi billionaires. For the tech companies earliest investors including this Catholic school in northern California. The Saint Francis endowment fund was one of the first to put money into snapped. And now the fun that goes toward student scholarships and tuition stands to make millions. Think that they covered Cheney for Saint Francis despite concerns that snapped growth has stalled and it's lost money two years in a row the company celebrated up positive first day of trading starting at seventeen dollars a share and climbing from there. Experts attribute some of its boost to the strength of the market. After a record breaking day Wednesday when the Dow surged past 21000. For the first time ever. And snapped closed the day at more than 24 dollars a share a more than 40% increase in just its first day. Now investors are watching to see if it'll be able to maintain this momentum. Are sickens all of ABC news Los Angeles.

This transcript has been automatically generated and may not be 100% accurate.

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