Catholic institution accrues $24 million through investments in Snapchat
St. Francis Catholic High School Invested in Snap and Plans to Use Proceeds from IPO Sale
St. Francis Catholic High School in Mountain View, California, made headlines recently by announcing their investment in Snap, now known as Snap, during the company's early seed round in 2012. The school invested $15,000, and more recently, they sold some of their shares for $24 million.
The strategic plan of St. Francis Catholic High School includes expanding financial aid, growing their science and technology programs, and carrying out these initiatives with the funds from the Snap IPO sale. However, the school has not disclosed their current shareholding in Snap, nor have they specified how much they plan to allocate for each aspect of their strategic plan.
Despite the lack of disclosure, the school only sold two-thirds of their shares, retaining one-third. This decision could indicate a belief in Snap's potential for further share price growth, as analysts predict the price may rise further based on the school's decision to retain one-third of their shares.
It is unclear why St. Francis Catholic High School decided to invest in Snap's seed funding in 2012, as no credible sources have explained the reasoning behind this decision. However, the investment has proven to be a lucrative one, with the school receiving $24 million from the sale of their shares.
The funds from the Snap IPO sale will be used to implement the school's strategic plan, which includes expanding financial aid, growing their science and technology programs, and carrying out these initiatives to further the school's mission. The school's success in investing in Snap serves as an example of forward-thinking financial planning and a commitment to providing the best possible education for their students.
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