Comcast's NBCUniversal invested $500 million in Snap's IPO yesterday as part of a "strategic investment partnership," reports CNBC. Snap doesn't appear to have allocated shares of the company to any other strategic partner, which would make NBCU the only U.S. media company with a stake.
NBCUniversal has also allegedly been reaching out to Snap CEO Evan Spiegel for the past year, and has agreed to hold its current shares for at least a year.
Why this matters: NBCU's investment signals an important vote of confidence in Snap's $28 billion IPO, a pricy valuation which many companies have questioned if it will last. It also indicates that NBCU is forging ahead with its investments into a series of digital media assets — including $400 million in Buzzfeed and $200 million in Vox. As CNBC points out, NBC has spent about $1.5 billion on digital assets in the past year and a half.
Note: NBC is an investor in Axios and Andy Lack is a member of the Axios board.
Trump has criticized wind-power, cast doubts on solar power's cost effectiveness, and promised on the campaign trail he would bring back coal jobs. But Trump is unlikely to touch the tax credits that subsidize investments and production in solar and wind power. Here's why that makes sense:
