BUSINESS

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.

Evan Spiegel and Bobby Murphy ring the NYSE opening bell

 (Carolyn Cole/ Los Angeles Times)
(Carolyn Cole/ Los Angeles Times)

Snap Inc. Chief Executive Evan Spiegel and Chief Technology Officer Bobby Murphy just rang the opening bell at the New York Stock Exchange in the Los Angeles company's stock market debut.

The pair arrived decked out in suits at the stock exchange on a windy morning in lower Manhattan. Inside they found the trading floor more yellow than usual. Spiegel choose yellow as Snapchat's main color because no other major app had used the option, and he wanted his company's to stand out. At the stock exchange, Snap's faceless-ghost logo -- and its eye logo for hardware -- lighted up screens.

Seconds before they rang the opening bell, a laughing Spiegel, wearing a golden tie and white dress shirt, whispered into the ear of a tense but smiling Murphy, who sported a navy tie and light blue shirt,

Snap will trade under the stock symbol SNAP.

This post was updated at 6:59 a.m. with a photo of Spiegel and Murphy.

This post was updated at 6:38 a.m. with details of Spiegel and Murphy's arrival.

Latest updates

Copyright © 2017, Los Angeles Times
EDITION: California | U.S. & World
68°