Saint Francis High School, a private Roman Catholic school in Mountain View, California, disclosed today that it invested $15,000 in Snap’s seed round of financing in 2012. The school made the investment at the urging of Barry Eggers, a founder at Lightspeed Venture Partners and chair of the Saint Francis growth fund. At the time, Eggers had two children enrolled at the school.
The investment gave Saint Francis about 2.1 million Class A shares in Snap. The school sold two-thirds of those shares at $17 each—the IPO price set by Snap last night—to raise about $24 million, it told Quartz today. The remaining third of its holding, roughly 700,000 shares, could be even more lucrative. Snap’s stock ended its first day of trading today at $24.51 per share, up 44%.
And why Eggers decide on investing in Snap is very interesting ，
Back in 2012, Lightspeed led Snap’s seed funding with a $485,000 investment, and went on to invest another $7.6 million in the company over two subsequent rounds. In a note published this morning, Eggers recalls being convinced to bet on Snapchat after seeing his daughter, Natalie, and her friends absorbed in it one day after school.
“How often do you use it?” I asked.
“I used to send 5 or 6 a day. Now I get 30 a day!” Natalie said.
The other girls nodded in agreement and showed me some of their Snaps.
“Do boys use it?”
My son Andrew nonchalantly walked into the room: “Yeah, we use it a lot too.”
Look into the user , they will reverse mentor you , how to invest
Typically , my way in to strategic decision will be
1. Researching to the data , data will never lie ;
2. Experiencing the product and synthesize with why and how ;
3. Observing how suers in usage
4. Reading the reviews of products from users