$15k Snapchat Investment Earns Catholic School $24 Million

Maybe the new app your students are using merits closer attention from the school's finance team. A small investment from a California Catholic school's endowment fund paid off big last week when Snapchat, the mobile messaging app known for "disappearing" messages, went public. 

In 2012, a parent of two students at St. Francis High School was intrigued when he saw his children using the app. The parent decided to invest his venture capital firm in Snap Inc., the company behind the app, and invited the school to join him. When Snap began selling shares on Thursday, the school's $15,000 investment turned into 2 million shares. St. Francis sold 1.4 million of its shares at $17 each, leaving it with 600,000 shares. As of Friday afternoon, Snap's share price had climbed to $26.

American School & University (03/03/17)