Home AR News NBCUniversal Has Invested $500 Million Into Snap Inc.

NBCUniversal Has Invested $500 Million Into Snap Inc.

NBCUniversal Has Invested $500 Million Into Snap Inc.
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NBCUniversal has confirmed that they have just invested $500 million in Snap Inc. as they make a push in the digital media industry. As a result, Snap’s shares jumped to $28.84 a share early today. That’s an increase of $4.36 (+17.82%). The company finished its first day of trading with a 44 percent gain compared to its IPO price which started at $17.00 a share.

snap stock prices

What’s unique about this situation is that this is the only known stock allocation to a new strategic investory. This could mean that NBCUniversal is the only US Media company with stake in Snap Inc. Other media companies do have the means to purchase stock in the open market if they so choose.

NBCUniversal Chief Executive Officer, Steve Burke, has made big bets on multiple digital media companies in the past 18 months. He has invested $400 million into Buzzfeed and $200 million into Vox. Burke has made other investments as well totaling around $1.5 billion in allocation of money to digital assets. “With the Snap investment, we have invested over $1.5 billion in promising digital businesses in the last eighteen months,” Burke said in a memo.

With a new structural capital invested into Snap Inc., we can see a faster pace to growth for their AR technology that they envision. Augmented reality digital billboards across the city will be a sight to see in the coming months.

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