Shares of Snapchat's parent company were climbing 10% to $27.06 on Friday afternoon, after popping about 44% the day before. Snap's first-day pop was bigger than those for Facebook (FB) , Alibaba (BABA) and Alphabet's (GOOGL) .
With a market cap of more than $30 billion, Snap is now more valuable than Twitter and Viacom (VIAB) , and isn't far behind eBay (EBAY) and Tesla Motors (TSLA) . The company now has about $2.3 billion in cash to use for acquisitions, new hires, product development or whatever else it chooses to do.
But for all the fanfare, many questions remain about what pressures Snap may face now that public investors' money is on the line and all its financials must be laid bare in quarterly reports.
For starters, being a public company is very different from being a Silicon Valley startup and, with that, comes a certain set of expectations. Snap will probably get a pass for the first few quarters as it works to even out its balance sheet, but investors will still be closely monitoring its top-line results, as well as its ability to scale up advertising revenue, user growth and monetization.
Snap, like many young tech companies, has a certain kind of corporate culture that might be at odds with the pace of Wall Street. The company acknowledged in its S-1 filing that its beachfront Venice, Calif.-based office and other offices around the country are isolated from one another, which could prevent employees from collaborating. Additionally, its millennial-inspired atmosphere (see, for example, its ghost mascot, dubbed "ghostface chillah" after a pop culture reference) will probably be forced to conform more to a more traditional office environment.