Snap adds $8 billion to market cap as stock surges 50%
Snapchat owner Snap's market capitalisation surged by $8 billion to nearly $25 billion on Wednesday after its shares jumped almost 50% following the announcement of its December quarter results. Snapchat added 8.9 million daily active users during the quarter, to reach 187 million. The company also posted a revenue of $286 million, a 72% increase from a year earlier.