The Snapchat logo seems to float over Ocean Front Walk in Los Angeles' Venice neighborhood in 2013. (Genaro Molina/Los Angeles Times/TNS)
SAN FRANCISCO: Five years ago when Facebook went public, employees of the social network were glued to office televisions airing CNBC, waiting for the company's trading price.
"Everyone was hoping for a pop," said Dan Fletcher, a former Facebook employee, referring to the spike in stock price that some companies experience after an initial public offering.
