Snap Inc's First Day on the Street

Today Snapchat's parent company Snap made their debut on the New York Stock Exchange. It was a pretty big day for Snap to say the least, but can they make a profit? Do they even need to make a profit? Will Snap be a Facebook or a Twitter? Many questions.

Snap was initially priced at $17 a share to start the day, but when they finally began trading Snap was priced at $24 a share. As anticipated Snap quickly rose and shares were being traded left n right, reaching their high at $26.05. Snap closed at $24.48 up 44% for day, all this according to CNBC.

​Here's what some had to say on Fox Business about the IPO and Snapchat itself:

Snap has a lot to offer, with Snapchat that is, and you'd think all Snapchat can do is grow, right? Well they certainly can grow, but user growth has slowed drastically lately, with some believing Instagram Stories had something to do with that.

Snapchat did come out with Spectacles, camera glasses that Snapchat. Spectacles are a really cool thing, and you can buy them on spectacles.com, but they are $130. You can only physically buy them in select cities around the country from Snap's very own vending machine.

Snap likes to call themselves a camera company. but they have a model of a social media company. This what makes Snap's IPO, and their future optimistic, they have potential to sell social media through hardware. Snap is already doing it with Spectacles, and if they use investor money wisely they'll mass produce their Spectacles in time for the holidays.

Snap could also bring back the cool in owning a camera, not just having one on your smartphone. Snap could create a camera that literally is Snapchat, but with more features such as saving to external devices and even printing.

Here's another clip from Fox Business of former Sun Mircrosystems CEO Scott McNeal on Snap and investing in it:

All Snap needs to do is make profits and not lose money, if they can do that, they can be the next Facebook like company. Now if Snap doesn't capitalize and start making money, they'll fall into a hole with Twitter and it'll be hard to get out.

It's just a risky investment if you don't have a lot of cash to invest with, and if you're willing to lose some money along the way. Snap keeps losing money and user growth has slowed, but if they get more into the augmented reality and hardware, Snap should be able to turn a profit. Snap could bombard Snapchat with ads and make money that way, but that isn't the best way to attract users.

It's clear, Snap needs to sell Snapchat in a hardware form and invest heavily in augmented reality. Snap can sell ads along the way, but they need to sell more than ads. Software plus hardware under the Snap brand will sell, but you have to keep innovating.

​The bottom line though is, Snap and Snapchat will be a common household name like Facebook, Twitter, and Google within 2-5 years. Snap could ultimately be a winner waiting to happen.