From Associated Press:
SAN FRANCISCO (AP) — It’s an only in Silicon Valley kind of story: A well-to-do private Catholic high school makes a $15,000 investment five years ago in the company developing the Snapchat app, holds onto it for years and ends up with a windfall of $24 million.
One well-connected parent, Barry Eggers, made it happen for the Catholic St. Francis High School by convincing the school’s board to take a risk on Snap Inc., which had a blockbuster initial public stock offering Thursday.
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[Michael Brown’s Books]
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