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Snapchat maker Snap Inc. held the biggest initial public offering ever for a Los Angeles company this week pricing its shares at $17 apiece. The company made its debut on the New York Stock Exchange on Thursday, where it quickly leaped to close at $24.48.

Ahead of IPO, protesters demonstrate outside Snapchat company's Venice headquarters

Danielle Mitchell, right, joined fellow Venice residents and business owners to protest in front of Snap offices on Market Street in Venice on Thursday. (Genaro Molina / Los Angeles Times)
Danielle Mitchell, right, joined fellow Venice residents and business owners to protest in front of Snap offices on Market Street in Venice on Thursday. (Genaro Molina / Los Angeles Times)

A group of about 60 Venice residents and business owners gathered outside Snap Inc. headquarters Tuesday afternoon to show their disdain for the company's large footprint in the neighborhood.

They said they hoped to draw attention to the Snapchat maker's takeover of Venice landmarks, including bars and buildings, to make way for its corporate offices.

Barbara Lonsdale, who has lived in Venice for 30 years and helped organize the protest, said she was particularly annoyed by the ubiquity of the company's shuttles, which ferry employees between offices.

"They're just zipping each other from mini campus to mini campus," she said. "They act like they own the place."

Tensions spurred by Snap's unusual real estate strategy aren't new, but the demonstrators aren't happy that an initial public offering of Snap shares this week will bring the company billions of dollars in cash to keep expanding.

Snap said in a statement:

We don’t just have our headquarters here; many of us also call Venice home. We’ve been very grateful to be a part of this creative community for over the last four years and we've worked closely with local schools and nonprofits to be a good neighbor. No one could have anticipated how quickly we’ve grown, and we have already begun focusing our future growth outside of Venice.

Vivianne Robinson, 59, walks through Venice as part of anti-Snap demonstrations Tuesday. (Genaro Molina / Los Angeles Times)
Vivianne Robinson, 59, walks through Venice as part of anti-Snap demonstrations Tuesday. (Genaro Molina / Los Angeles Times)
People frustrated by Snap's many offices in Venice protest on the block with buildings where the company's key executives work. (Genaro Molina / Los Angeles Times)
People frustrated by Snap's many offices in Venice protest on the block with buildings where the company's key executives work. (Genaro Molina / Los Angeles Times)
Tony Pettibone, left, was among demonstrators in Venice on Tuesday. (Genaro Molina / Los Angeles Times)
Tony Pettibone, left, was among demonstrators in Venice on Tuesday. (Genaro Molina / Los Angeles Times)

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