California High School made $24 million by investing $15K in snapchat
A California high school, which invested around $15,000 in the Snapchat five years ago and the school is getting $24 Million for what they invested.
It all started when Barry Eggers, founding partner of Lightspeed Venture Partners, saw his kids using a new social media app called Snapchat five years ago.
He knew that this app would be very popular in future and hence he met to the co-founders of the app, Evan Spiegel and Bobby Murphy, who at that time were working out of a dorm room at Stanford University.
Egger managed his partners to invest in the business and managed to raise $500,000. Well, in the raised investment, $15,000 was from the school, St. Francis High School in Mountain View, Calif.
So, now the $15K investment has become $24 Million.