How did a California Catholic school make $24 MILLION on Snapchat?
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.
Can Snapchat change your life?
Mountain View, CA (ChurchPop) - 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.
One Catholic school made millions by investing in Snapchat.
This article originally appeared on ChurchPop.com. Not for redistribution.
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for MARCH 2017
Support for Persecuted Christians. That persecuted Christians may be supported by the prayers and material help of the whole Church.
Joe Thomas has been an IHOP employee for over a decade in Springfield, Illinois, so when a couple of regulars came into his restaurant, he ... continue reading
Fourteen choir members of the First Baptist Church in New Braunfels were driving home from a church retreat Wednesday afternoon when their ... continue reading
Christian student suspended for arguing with Muslim teacher - 'Obviously Rollins College has an agenda when it comes to Religious Freedom' Watch
Marshall Polston, a Christian and a student at Rollins College in Florida, was stunned when his professor claimed the crucifixion was a ... continue reading
Heroes of justice responsible for uncovering Planned Parenthood's horrific illegal baby organ sales now face JAIL TIME Watch
David Daleiden and Sandra Merritt of the Center for Medical Progress uncovered Planned Parenthood's murderous scam of promoting baby ... continue reading
Recently, I was given a unique opportunity to taste some of the bitter hardships endured by fellow human beings fleeing drug-gang violence, ... continue reading
by Catholic Online
- IHOP employee pictured with disabled customer melts hearts around the ...
- St. Benjamin: Saint of the Day for Friday, March 31, 2017
- The one strange thing millennials are giving up for Lent
- 'Living Lent': Friday of the Fourth Week of Lent - Day 31
- Daily Readings for Friday, March 31, 2017
- Pope Francis shares important message with families HD Video
- Daily Reading for Saturday, April 1st, 2017 HD Video
- Implant allows paralyzed man to move arm using his thoughts HD
- Daily Reading for Friday, March 31st, 2017 HD
- Daily Reading for Thursday, March 30th, 2017 HD
- Cause of California's drought is revealed HD
Copyright 2017 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2017 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.