Profile image
By CNA Daily News - Europe (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

This Catholic school made $24 million by investing in Snapchat

Wednesday, March 8, 2017 6:17
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Mountain View, Calif., Mar 8, 2017 / 06:06 am (Church Pop).- St. Francis Catholic High School in Mountain View, California recently revealed that it invested just $15,000 in a very early seed round of funding for Snapchat (now known as Snap) back in 2012.

Snap just went public with an IPO, and the school sold some of their shares for a whopping $24 million.

They only sold two-thirds of their shares, saving one-third in hopes that the share price will continue to rise.

The school president said the money would be used to carry out their strategic plan, which includes expanding financial aid and growing their science and technology programs.

So why was the school investing in Snapchat in the first place? The school has a special growth fund that they’ve used to make investments since the 1990s as a way of generating additional income. In 2012, a father of two girls at the school who ran a venture capital firm recommended the school make the investment in the fledgling start-up.

 

This article originally appeared on ChurchPop.com. Not for redistribution.



Source: http://www.catholicnewsagency.com/news/this-catholic-school-made-24-million-by-investing-in-snapchat-88678/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.