billion. making it the biggest tech ipo since facebook. that s a big deal. facebook offered to buy snapchat for $3 billion in 2013. that offer was turned down. the owners of snapchat look like geniuses. they turned down $3 billion and the personal stake is way more. the company is struggling to make money. suffering from losses of more than $500 million last year. the glasses that shoot video sales started last week. not unknown with a lot of buzz with a company that doesn t make money yet. do you snap? i have snapped before. i stopped snapping. everyone i know who is younger than 20 snaps. do you know there is a filter right now for corn? you are a corn filter just for you. you can bring me into the 21st century. i ll show you at the break.
value of $24 billion. he was offered three. likely worth $24 billion. making it the biggest tech ipo since facebook. he ll start trading this morning at the new york stock exchange. snap is not yet profitable. this often happens, a great idea but doesn t make any money. lost $500 million. recently launched glasses that shoot video called spectacles. all three major stock market averages have never been higher. the dow crushing it, crushing 21,000, hitting that park for the first time ever. i want you to look at this stat. since the election the stock market has added $2.7 trillion in value. companies and shareholders are getting very rich. the presidential sounding speech fueling the rally plus new optimism the fed will raise rates in two weeks. that will boost profits for the big banks. alisyn. i don t understand valuation of snapchat. thank goodness you re here to
valuations soaring. at about $33 billion. is that an overvaluation? reporter: well, there was certainly a lot of hype that went into the i.p.o. snap chat up about 15%. up about $8 right now. this is the biggest tech i.p.o. we ve seen in a while, basically since facebook went public. the market for companies going public, especially tech companies, has been kelltively cool. this is a benchmark. this is a bell weather, perhaps, of what the market can handled right now. looking at snap chat,s that continue that continues to make a loss. it does not make a profit. at the same time you have millions, hundreds of millions on it every single day spending about half an hour on it. the question now is will the company be able to take the money it raised today and build out the company, become the next facebook or will it continue to have a profitable sh you a like we see with twitter. those shares haven t fared so well. how would you describe snap
this is the biggest ipo of the year right here at the new york stock exchange, big moment for this exchange. nyse prepped for this in anticipation of high demand for twitter shares. anyone buying in is buying in to an unprofitable company. the big question is, can twitter turn its popularity into profitability? i m going to make history as the first president to live tweet. this movement was started on facebook and twitter and then took on a life of its own. people that i work with will not shut up about twitter. it s the most hyped tech ipo since facebook. twitter began trading here at the new york stock exchange instead of the nasdaq after facebook s famous flop there. the messy debut plagued by technical difficulties. but today, call it an about face, as mark zuckerberg and friends celebrate shares near record highs. twitter s financials aren t as
chaos is what we have now. happy halloween. getting in on the ground floor of twitter. it is the biggest tech ipo since facebook and we know how that one went. we are going to tell you what the new york stock exchange is doing to try to avoid the same fate as facebook.