Snap chats Parent Company goes public. Everybody here in the bay area is watching this closely. Daniels is a consultant focused on snap. It may inspire local Tech Companies to get serious. Seeing what happened today could really get boards excited. And if boards in the next couple months start saying, lets be like snap, we could have just a quite a herd of really nice companies, and unicorns heading toward the markets. That would be awesome. Potentially awesome for those companies, what about the bay area economy and housing market, which has been pricing people out for years. One ipo like that could make a difference. Steve has been a realtor in San Francisco for 40 years, and says, tech has changed the market, facebooks Public Offering in 2012, almost doubled the number of Million Dollar listings in menlo park. People make an offer in good faith, and the property gets bid up 20 , very frustrating. Folks do leave the city because of that. Another blockbuster ipo just makes that worse.
Joining us tonight. Two former Stanford University students are multibillionaires. This morning, snap cofoun r cofounders rang the opening bell on the New York Stock Exchange as their company went publ public. The company had even more to celebrate after the closing bell. Snap finished its first day of trading at 24. 48. It managed to rise on a day the rest of the market dropped. The dow fell more than 100 points, the nasdaq dropped by 42. This is the biggest and most expensive American Tech Company to go public since facebook in 2012. Snap isnt a bay area company, its based in venice beach. Kate larson is live to explain how it has an influence on our local tech industry, kate . Even though snap is based in los angeles, it still feels like a Silicon Valley startup, a lot of the investors and people who work there are from the bay area. Which has people wondering if snap may be the end of a years long ipo dry spell. Snap chats Parent Company goes public. Everybody here in the bay area