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Snapchat's parent company, Snap Inc., experiences a successful market debut as its shares surge 44% on the first day of trading. The initial public offering provides significant profits for the founders, investors, and underwriters, and injects momentum into the new-issue market. Investors are drawn to Snap's fast-growing social network, reflecting the market's appetite for innovative tech companies with potential for substantial growth.
Wednesday, 1 March, 2017