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Daily Report: Snap's I.P.O. Went Well. Now What?

Snap faced down its skeptics, at least on its first day of trading.

Snap, the maker of the ephemeral messaging app Snapchat, started trading on the New York Stock Exchange on Thursday, amid strong investor demand for its stock. The company's shares soared up 44 percent from their offering price, writes Michael de la Merced, a New York Times reporter for DealBook, giving Snap a market capitalization of around $34 billion.

Snap's one-day jump was notable given plenty of questions a

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