Print Edition - 2017-03-05  |  Money Digest

NBCU discloses stake in Snap


Mar 5, 2017-

Comcast Corp’s NBCUniversal on Friday disclosed it has taken a $500 million stake in Snap, the messaging service which launched its big public offering this week. 

“This is a significant milestone in our growing partnership with Snap, and we look forward to participating in Snap’s success as an investor and continuing to work closely with them for years to come,” NBCU chief executive Steve Burke said in a memo to employees. California-based Snap, known for its Snapchat disappearing messages and which has a range of media partners, jumped 44 percent in its first day of trading Thursday after the biggest US technology listing since Facebook in 2012.

Published: 05-03-2017 09:23

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