Investors see Snap’s IPO as ‘too big to fail’

A banner for Snap Inc hangs on the facade of the New York Stock Exchange on the morning of the company’s IPO in US. Photo: Reuters/File Institutional investors anxious not to be left out of this year’s marquee initial public offering helped Snap Inc pull off the biggest US-listed technology share sale this week since Chinese e-commerce juggernaut Alibaba Group Holding Inc smashed records in 2014.