California School Receives Millions For Investing in Snap Chat

Saint Francis high school in California benefited big time from an investment in SnapChat when the company went public. It all started when Barry Eggers, founder of Lightspeed Venture Partners came home from work one day and noticed his daughter playing on the new app around 5 years ago. He then reached out to his partner Jeremy Liew who then decided to reach out to the Snap chat CEO Evan Spiegel.

Liew and his firm decided to invest in Snap chat, and Eggers also convinced his daughter's school to invest as well. Later that year, Lightspeed invested $485,000 in Snapchat and Saint Francis put in $15,000, making them the first investors of Snap Chat which was valued at just $4.25 million at the time.

On Thursday, Snap chat's parent company began trading on the New York Stock Exchange with a market value of $33 billion, or more than 7,750 times the value it had when the high school invested.

Lightspeed, which invested a total of $8.1 million in the company over the years, now owns a stake worth nearly $2 billion based on Snap's opening stock price.

Moral of the story kids....START INVESTING in things you love and use daily. You never know...