The stocks of Snap which owns Snapchat application jumped 44% in first seconds of the auction, reports Bloomberg.

Snap has placed its shares on March 1. Each of the securities at that time was estimated at $17, whereas the whole company at $ 24 billion. Snapchat IPO is the largest IPO technology ever. The company is estimated as  twice as much as Twitter, but much less than Facebook, whose capitalization is more than $ 400 billion.

Snapchat is a popular application that enables to communicate through photo and video. More than 150 million people use it every day.