Home brands NBCUniversal invests $500 million in Snap

NBCUniversal invests $500 million in Snap

745
0
SHARE
Photo via Anthony Quintano on Flickr under the Creative Commons License

Tech Crunch reports: “NBCUniversal is now the only U.S. media company that has an official stake in Snap. Today, NBC Universal (which is a unit of Comcast) revealed that it invested $500 million in Snap as a strategic investment partnership during yesterday’s IPO. Snap shares popped 44 percent in the first day of trading. NBCUniversal has been pursuing digital media aggressively in the past year, including investments in Buzzfeed, Vox, and acquisitions of SportsEngine and Awesomeness TV. According to CNBC, NBC has spent approximately $1.5 billion on digital media assets in the last 18 months.”

Read more