Shares of Wall Street debutante Snap Inc (NYSE:SNAP) owner of the popular vanishing messenger Snapchat, jumped more than 10% on Friday as the first full day of trading saw NBCUniversal take a strategic stake in the enterprise.
NBCUniversal said in a memo to employees it made a “strategic investment” of $500mln in Snap.
NBCUniversal, a subsidiary of Comcast Corporation (NASDAQ:CMCSA), has partnered with the company prior to its IPO, including a partnership to feature Olympic games content.
Snap made its highly anticipated market debut Thursday – at around 1100 ET after listing delays - with a 48%r rise from its $17 listing price.
Snap shares were up 10.7% at $27.09, its highest level so far, on Friday.