The visual media company has sold an additional 30 million shares to close an offering that provided exits to Yahoo, Tencent and Alibaba.
US-based visual media platform Snap closed its initial public offering at $3.91bn yesterday, after the IPO’s underwriters took up the option to buy an extra 30 million shares.
Snap floated on Thursday last week, issuing 145 million shares priced at $17 each, which were joined by 55 million shares divested by existing backers to raise an initial $3.4bn, giving exits to investors including e-commerce firm Alibaba and internet companies Tencent and Yahoo.
NBCUniversal subsequently revealed that it invested $500m…
