One lucky high school just made $24 million in Snap's IPO

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One lucky high school just made $24 million in Snap's IPO

One lucky high school just made $24 million in Snap's IPO

It wasn't just Evan Spiegel who got rich in Snap Inc.'s IPO yesterday.*

A California high school has made millions of dollars from the initial public offering of shares in Snap Inc., the company behind Snapchat.

The board of the Saint Francis high school in Mountain View agreed to invest $15,000 in seed money in Snap in 2012, when the company was just getting started.

They had been invited to do so by one of the student's parents, a venture capital investor with Lightspeed Venture Partners, the high school president said in a letter issued to the school community Thursday.*

"We didn't have real high expectations," the school's former president, Kevin Makley, told CNNTech. "We collectively decided that this was going to be a ... small investment. So we'll take a shot at it." Read more...

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