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Startups & Tech

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Snap jumps 44% in debut as investors doubt value will vanish

US$34b tech giant charms investors despite red flags; some analysts already show scepticism about the company

Published Fri, Mar 3, 2017 · 09:50 PM
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New York

SNAPCHAT is a business built in large part on disappearing messages and adding animated dog ears and flower crowns to users' selfies.

As at Thursday, that business is worth about US$34 billion - more than the market value of the old-line media company CBS, and about three times the size of another social media company, Twitter. Snapchat has made paper billionaires of its 20-something founders five times over.

In making its stockmarket debut in spectacular fashion - its shares rising 44 per cent on…

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