Miranda Kerr, CEO Evan Spiegel’s fiancé and famous model, took many snaps of Snapchat’s debut on the New York Stock Exchange.
Snapchat, parent company Snap (NYSE: SNAP), just went public this morning. The first trade of the morning proved me right…Snap opened at $24, that’s 40% above its IPO price of $17. Why the immediate jump you ask? It’s because Snap was oversubscribed, not just by a little but by a lot, a whopping 10x. Some large institutional investors stated that they were only allocated 2% of their initial indication. That’s like me asking the street dog vendor, “hey I want 100 hot dogs” and the master chef comes back to me “you only get 2”. I can reference the Soup Nazi from Seinfeld, but you get my point.
Nevertheless, this made a lot of investors, including the founders CEO Evan Speigel and CTO Rob Murphy, very rich – let’s say $5.8 billion dollars richer. Miranda Kerr was enjoying the moment, an additional 15 minutes of snap fame, while she snapped herself, entourage, and of course her soon-to-be hubby at Snap’s opening.
Here’s Miranda snapping during her early morning hair and make-up routine…girl’s got to look hot for CNBC and the rest of the cameras.
Here’s Snap at the opening bell. Snap was painting the exchange, town, and investors fatter wallets yellow.
Did anyone else notice that Evan was constantly whispering into Rob’s ear right before they rang the bell? He may have said “Dude, I’m erect…we are about be even bigger billionaires. I’m gonna go swimming in all this money, you wanna join”.
And lastly in style, Snap dropped their famous Snapchat Bot in order to sell (or give away) Snap Spectacles. I like to call this: Snap Attack…from all specs.
To follow Miranda and her snapalicious day, you can add her at: mirandakerr. Or snap the following pic below: