Snap Stock Rises 3% as Firm Acquires Location Data Startup StreetCred

Snap Stock Rises 3% as Firm Acquires Location Data Startup StreetCred
Jan 12 2021 · 13:29 UTC by Steve Muchoki · 3 min read
Photo: Unsplash
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Although Snap did not disclose the financial side, it is expected that StreetCred will shut down its platform as part of the acquisition deal.
Snap Inc (NYSE: SNAP) stock jumped 3.13% on Monday to close the day trading at $54.38. Meanwhile, SNAP shares were up approximately 1.25% during Tuesday’s premarket. The spike is attributed to news that Snapchat’s parent company Snap has inked a deal to acquire a New York City startup building a platform for location data StreetCred.

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