How US school turned $15,000 into $24m with Snapchat flotation
by Rupert Neate from Technology | The Guardian on (#2EMTE)
Parent cut Saint Francis high school in on venture capital deal five years ago after noticing his children using messaging app
The parents of pupils at a Silicon Valley school were sent an unusual letter this week - telling them the school had made at least $24m (19.6m) in profit from a $15,000 punt on messaging app Snapchat.
"I am happy to share some momentous news with you," Simon Chiu, head of Saint Francis high school, said in the letter. "The school's investment in Snap has matured and given us a significant boost."
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