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A School Has Made £19 Million Through Investing In Snapchat

A School Has Made £19 Million Through Investing In Snapchat

This is ridiculous.

Stewart Perrie

Stewart Perrie

As social media has slowly developed over our lifetime I've always watched in wonder as people made money off the various platforms.

First it was Youtube and Vine stars which make absolute bank just by doing funny shit.

But now some very clever people at a school in the US have used the juggernaut that is Snapchat to its advantage.

Barry Eggers is a partner at an investment firm in Silicon Valley and also has his daughter at Saint Francis High School in California.

He saw his kid playing around on the app with her friends and thought he should get the school to invest in the company.

If you've missed Snapchat's big news - it listed itself on the stock market for the first time as a public company.

Snapchat's initial public offering (IPO) was the biggest the industry has seen since Facebook rose to prominence five years ago.

Credit: PA

Barry suggested to the school that it should invest $15,000 into the IPO in hopes of cashing in.

Low and behold when the markets opened after a day of trading - the school sold its shares for $24 million (£19 million).

Barry wrote in a blog post to Medium: "While I've enjoyed Snap's journey with my Partners as an early investor, I have the unexpected bonus of sharing the experience with my children.

"It's been amazing for us to watch how far Evan and Bobby and Snap have come since that kitchen table conversation between my daughter and me...and how much they've already changed how we communicate today."

Suffice to say I'm sure the school will use that money to get some pretty epic stuff!

Rich Kids of Snapchat is Ridiculous

Even though the Saint Francis High School is now rolling in cash - it won't come close to the high life of the super rich.

There is a Facebook page called PrivateSchoolSnapchats and the photos posted there are just plain depressing.

While the majority of us took the bus into school or had to walk - these kids have been downright spoilt.

Rich
Rich

Credit: Facebook/PrivateSchoolSnapchats

rich 2
rich 2

Credit: Facebook/PrivateSchoolSnapchats

rich 3
rich 3

Credit: Facebook/PrivateSchoolSnapchats

Yep that's just plain depressing!

    Featured Image Credit: PA

    Stewart Perrie is a Trending Journalist at LADbible. His first job was as a newsreader and journalist at the award winning Sydney radio station, Macquarie Radio. He was solely responsible for the content broadcast on multiple stations across Australia when the MH17, Germanwings and AirAsia disasters unfolded. Stewart has covered the conflict in Syria for LADbible, interviewing a doctor on the front line, and has contributed to the hugely successful UOKM8 campaign.

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