NBCUniversal invests $500m in Snap IPO in latest digital push

NBCUniversal invested $500 million in Snap Inc. during its IPO as part of a strategic investment and partnership. The stock allocation by Snap to NBCUniversal appears to be the only one made to a new strategic investor, which would make NBCUniversal the only U.S. media company with a stake. NBCUniversal has been aggressive in backing new media businesses. 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 Mid-day trading of Snap Inc.’s share rose 8% on Friday to $26.41. The day before, Snap’s stock price soared 44% over its IPO.