Snapchat co-founders Evan Spiegel, Bobby Murphy share $2.7 billion windfall

Snap Inc.’s co-founders got richer by billions of dollars in just a few hours, after the company reported better-than-expected results as the coronavirus pandemic boosted usage of its app.

Shares soared as much as 25 per cent to $35.57 in late New York trading Tuesday after the owner of the popular Snapchat mobile app said sales jumped 52 per cent to $678.7 million in the third quarter, with 249 million daily active users. The gains lifted the fortunes of Snap’s co-founders, Evan Spiegel and Bobby Murphy, by $1.3 billion and $1.4 billion, respectively, taking them to $6.9 billion and $7.2