Snapchat

Snapchat Went Public, and This Silicon Valley School Made a Cool $24 Million

When I was in high school, we held bake sales, car washes, and carnivals to raise money for things like shiny new uniforms and ski trips. Now – at least if you go to school in Silicon Valley – investment opportunities have gotten quite a bit more sophisticated.

And, if I remember the $200 we made after an entire day washing cars in the heat correctly, quite a bit more successful, too.

It all started back in 2012, when venture capitalist Barry Eggers came home to find his children at the kitchen table playing with a new app – Snapchat. In a world bogged down with social media, Snapchat offered something new and just different enough, with its filters and the disappearing content element.

At least that’s what Eggers thought, and he subsequently negotiated a $500,000 investment in the company.

That’s where St. Francis High School (where Eggers’ children go to school) came into play. The school set up a fund in 1990 that aims to…