Snapchat's founders become billionaires as Snap rockets in Wall Street debutLUCAS JACKSON/REUTERS Snapchat co-founders Evan Spiegel (left) and Bobby Murphy, who reportedly made US$5 billion (NZ$7 billion) each in Snap's IPO. The sharemarket launch of Snap outstripped expectations for its stock market debut on Thursday, when it closed worth about US$28 billion (NZ$40 billion). CARL COURT/GETTY IMAGES Snapchat's parent company Snap debuted on the US stock market, climbing rapidly on its opening day. ODD ONE OUTSUPPLIED Stanford students Reggie Brown, Bobby Murphy, and Evan Spiegel celebrating Snapchat's launch. But Brown had never been among the equity holders of the company, which was split 60/40 by Spiegel and Murphy.

Source: Stuff March 02, 2017 17:16 UTC