Snap Inc., the parent company of Snapchat, had a stellar first day in its public debut on the New York Stock Exchange, popping 47 percent. The company's market cap is being reported as $34 billion. Here are seven public companies that Snap outperformed on its first day as a publicly traded company.
A worst-case scenario for Snap would be to mimic Twitter's highly anticipated 2013 IPO. The company was off to a soaring start, but struggled to grow its user base over the years. The market cap of Twitter is $11.20 billion.
Ferrari
Snap is more valuable than Italian sports car manufacturer Ferrari ($RACE), which went public in 2015 after separating from Fiat Chrysler. The company's market cap does not exceed $12 billion.
Best Buy
Consumer electronics and entertainment retailer Best Buy went public way back in 1985, but today is less valuable than the photo-sharing app that has only been around for six years. The market capitalization is $14.08 billion.
Seagate
Seagate, best known for its hard drives, has seen revenue fall over the past few years. The data storage solution company went public on the NYSE in 2002, but has been eclipsed by other, sexier cloud storage providers. The market cap of Seagate is $14.44 billion.
Hershey's
Snap is about twice as valuable as The Hershey Company, which went public in 1978. To put this into perspective, Hershey owns more than 80 brands, including Reese's, Jolly Rancher, Kit Kat and Twizzlers. It's market cap is $16.57 billion.
Viacom
On its first day as a public company, Snap was more valuable than a media conglomerate that split from CBS in 2005. Viacom is one of the world's largest broadcasting and cable companies, with brands including MTV, BET and Paramount Pictures. The market capitalization of Viacom is $16.73 billion.
Hilton Worldwide
Hilton Worldwide is the hospitality company, which owns a network of more than 4,000 hotels, resorts and timeshare properties. But it's market cap totals $19.18 billion.
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