NBC just made over $200 million off of Snapchat in a single day
Business Insider
After Snap popped 44% on day one, that stake is worth around $720 million, a cool $220 million up. Not bad for a single day.
Sorkin noted that NBC appears to be the only media company with a strategic stake in Snap so far (the other strategics are Alibaba and Tencent).
But it certainly isn't NBC's only big strategic investment in digital media. The company invested in BuzzFeed for the second time late last year, bringing its total to $400 million in the company, and has put $200 million in Vox.
NBC courted Snap CEO Evan Spiegel "for the past year" CNBC reported. The companies also worked together (with BuzzFeed as well) on the Olympics, which snagged a massive 2 billion views.
NBC has agreed to hold the shares for at least a year, according to CNBC.
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