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 OCTOBER 2017
Workers and the Unemployed. That all workers may receive respect and protection of their rights, and that the unemployed may receive the opportunity to contribute to the common good.
On Monday, the U.S. Senate confirmed Callista Gingrich, wife of former House Speaker Newt Gingrich, as the next U.S. Ambassador to the Holy ... continue reading
With more than 30 deaths caused by the various wildfires devouring swaths of California, Pope Francis on Friday sent a message voicing his ... continue reading
NFL Commissioner Roger Goodell has asked league owners to have their players stand for the national anthem. The lamented in a letter to all ... continue reading
"It's the worst mass shooting in modern American history." The above opening sentence is the exact lead sentence I used in a column last ... continue reading
It's well-known that in ancient Rome hundreds of thousands of people would pile into the stacked layers of stone seating in the Colosseum ... continue reading
by Catholic Online
- Cardinal shares the Five Keys to Catholic Education
- Respecting life demands linking all life issues
- St. Paul of the Cross: Saint of the Day for Friday, October 20, 2017
- Daily Reading for Saturday, October 21st, 2017 HD Video
- Prisoners use lunch with Pope Francis to escape HD Video
- Profit For The Common Good
- Daily Readings for Friday, October 20, 2017
- Deacon Keith invites you... HD
- It was the Clintons! Clinton family took millions in bribes from Russia to sell off U.S. uranium HD
- Daily Reading for Friday, October 20th, 2017 HD
- Daily Reading for Thursday, October 19th, 2017 HD
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
The California Network
Inspiring streaming service
Learn the Catholic way