Ed-Tech Policy News in Brief

Snap IPO Yields Millions for Private Calif. High School

By The Associated Press — March 07, 2017 1 min read
  • Save to favorites
  • Print

A California high school has made millions of dollars from the initial public offering of shares in Snap Inc., the company behind the Snapchat photo-messaging application.

The board of the Saint Francis high school in Mountain View agreed to invest $15,000 in seed money in Snap in 2012, when the company was just getting started.

They had been invited to do so by one of the student’s parents, a venture capital investor, the high school president says in a letter issued to the school community Thursday.

The school held onto the investment until this week, when Snap shares sold for $17 each in an IPO. The share price rocketed 44 percent higher when trading began last week.

The school was quoted by media including the website Quartz as saying they sold two-thirds of their shares at $17 each, to raise $24 million.

“The school’s investment in Snap—which this morning announced the completion of its IPO—has matured and given us a significant boost,” said the high school president, Simon Chiu, in the letter.

A version of this article appeared in the March 08, 2017 edition of Education Week as Snap IPO Yields Millions for Private Calif. High School

Events

Teaching Profession K-12 Essentials Forum New Insights Into the Teaching Profession
Join this free virtual event to get exclusive insights from Education Week's State of Teaching project.
Jobs Virtual Career Fair for Teachers and K-12 Staff
Find teaching jobs and K-12 education jubs at the EdWeek Top School Jobs virtual career fair.
Mathematics K-12 Essentials Forum Helping Students Succeed in Math

EdWeek Top School Jobs

Teacher Jobs
Search over ten thousand teaching jobs nationwide — elementary, middle, high school and more.
View Jobs
Principal Jobs
Find hundreds of jobs for principals, assistant principals, and other school leadership roles.
View Jobs
Administrator Jobs
Over a thousand district-level jobs: superintendents, directors, more.
View Jobs
Support Staff Jobs
Search thousands of jobs, from paraprofessionals to counselors and more.
View Jobs

Read Next

Ed-Tech Policy Cellphone Ban Adopters Share How They Did It—and How It's Changed Students
School administrators detail how they got staff, students, and parents to believe in new, stricter cellphone policies.
6 min read
A phone holder hangs in a classroom at Delta High School, Friday, Feb. 23, 2024, in Delta, Utah. At the rural Utah school, there is a strict policy requiring students to check their phones at the door when entering every class. Each of the school's 30 or so classrooms has a cellphone storage unit that looks like an over-the-door shoe bag with three dozen smartphone-sized slots.
A phone holder hangs in a classroom at Delta High School, Feb. 23, 2024, in Delta, Utah. At the rural Utah school, like in schools across the country, there is a strict policy requiring students to check their phones at the door when entering every class.
Rick Bowmer/AP
Ed-Tech Policy Download Four Ways to Supercharge Your School's Cellphone Policy (Downloadable)
The first step is creating a cellphone policy. But it takes these four ingredients to make the policy work.
2 min read
Cell phones sit in a cell phone locker at Boys’ Latin School of Maryland in Baltimore on Oct. 24, 2024.
Cell phones sit in a cell phone locker at Boys’ Latin School of Maryland in Baltimore on Oct. 24, 2024.
Jaclyn Borowski/Education Week
Ed-Tech Policy Opinion If You're Going to Ban Cellphones, Do It Right
An educator offers school and district leaders a cooperative, restorative approach to restricting cellphone use in schools.
Nicholas Bradford
5 min read
School cellphone ban policies to restrict cell phones in schools to reduce distractions and help avoid social media addiction resulting in academic problems and mental health issues in a classrooom.
Wildpixel/iStock
Ed-Tech Policy More States Are Moving to Ban Cellphones at School. Should They?
While cellphone bans are popular with many educators, some researchers say there's not much evidence yet that these policies work.
A student uses their cell phone after unlocking the pouch that secures it from use during the school day at Bayside Academy on Aug. 16, 2024, in San Mateo, Calif.
A student uses a cellphone after unlocking the pouch that secures it from use during the school day at Bayside Academy in San Mateo, Calif., on Aug. 16, 2024.
Lea Suzuki/San Francisco Chronicle via AP