Jim Cramer breaks down the value of Snapchat's ad business on the day of the company's IPO.



Snap Inc. is one of 2017's most anticipated IPO's. But the company has some investors wondering what it is really worth. Jim Cramer looks at Snap's ad revenue. He compares it to Facebook and Twitter. The company priced shares above the expected range. Based on an official share count of 1.16 billion, the IPO pricing gives Snap a $19.7 billion valuation. But after factoring accounting for the many stock options and restricted stock units (RSUs) set to vest, Snap is assigned a $23.6 billion valuation. Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet

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