Comcast’s NBCUniversal has invested $500 million (€472m) in Snapchat’s initial public offering (IPO).

NBCU is pushing more and more into digital media, it has invested $400 million in online publisher Buzzfeed and $200 million in Vox Media over the last 18 months.

Snapchat owner Snap saw its stock rise 44 per cent on day one of the IPO, meaning NBCU’s stake already grew in value by $220 million to $720 million.

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Categories: Articles, Business, IPO, Social Media