Shares of Snap Inc., the parent company of photo-sharing and ephemeral messaging service Snapchat, surged in their market debut Thursday. Cooley has taken the lead for Snap on its initial public offering, one that values the company at $33 billion.
According to a securities filing this week by Snap, Cooley stands to reap at least $1.8 million in legal fees and expenses from the Venice, California-based media and technology startup as a result of its transition to a publicly traded company. Cooley also owns a sizeable slice of Snap stock.
