who is this parent barry eggers? it turns out eggers is a partner at lightspeed ventures also an early investor of snapchat. he says he knew it would be big when he came home from work one day and saw his kids laughing and engrossed in this new app. you just look like you won the lottery? >> we feel like that. >> reporter: the former school president was on the investment team that gave the green light and says they are blessed. >> i'm not so sure that we call it divine intervention but i'll tell you what, it is, um, making $15,000 into the vast amount of money this return will bring, god is looking out for us. >> reporter: st. francis will put a lot of the earnings towards an endowments to be used for financial aid. >> it's a catholic school. they are going to do amazing things with it. >> reporter: for parents and students it was a teachable moment worthy of -- >> i think you can -- [ giggling ] >> right now. [ laughter ] >> you can take risks and i think you never know what you're going to get out of something, um,

joining me now from san francisco, the managing director barry eggers and founding partner.t a story you have to tell on the back of snap. it was, what? five years ago you sat in the daughternd saw your playing with a new app and had to take a look? >> that is right. about five years ago today, i walked into the kitchen. my son and daughter and some of their friends from high school were looking at their phones and laughing. i was curious what they were doing. i asked what they were doing. my daughter said, hey, dad, have you heard about this app? it is called snapchat. i said, no, i have not heard of it. what does it do? she said you take pictures. you sent them to your friends and they disappear in 10 seconds or less. i thought, what kind of pictures? she said, funny, goofy stuff between friends. they showed me a bunch of examples. it turns out they were using this thing about 30 times a day. all the girls were nodding and saying we use it a lot. my son said we use it a lot, too. , there is this app all the kids are using and no adults knew about, and so we had to investig

who is this parent barry eggers? turns out eggers is a partner at lightspeed ventures also an early investor of snapchat. he says he knew it would be big when he came home from work one day and saw his children laughing and engrossed in the new app. >> you have the smile of somebody who looks like he just won the lottery? >> we almost feel like that. >> reporter: the former school president was on the investment team that gave the green light. he says they are blessed. >> i'm not so sure that we call it divine intervention but i'll tell you what, it is, um, putting $15,000 the vast amount of money this return will bring, god is looking out for us. >> reporter: they will put it towards an an do youment for financial aid. >> it's a catholic school. they are going to do amazing things with it. >> reporter: it was a teachable moment worthy of, yeah, you guessed it. >> , i think i learned -- [ giggling ] [ indiscernible ] [ more giggling ] >> you can take risks and i think you never know what you're going to get out of so

. >> reporter: bar ee eggers who -- barry eggers who had heard about the about it, urged the board to in$15,000 in snap chat. >> the guy who brought this deal to the table, his guys are doing due diligence, carefully making sure these are good investments and look good to the entire committee. so, we went with it. >> snap up 44% on the day. >> reporter: palo alto based manager said this type of success is something that could happen again. >> a school is lucky enough to have a pool of cash that they can invest. allocating a percentage of that, absolutely. >> reporter: with 50 million banked by the end of the day, questions and suggestion retirement system trickling in as to when should happen with the money. >> it is going to do wonders for building new buildings that have been needed around here and helping out our students. >> reporter: the school president says they will complete the tra stra teej i can plan for the seventh through ninth grade ers. >> that completes our assistance that makes sure this catholic holy cross education is accessible to as many students and families as p

a parent at the school by the name of barry eggers convinced the school's investment fund to get in early. who is this parent? it turns out he is a partner at light speed ventures who is also an early investor of snapchat. and a blog post he says he came home from work one day five years ago and saw kids laughing and engrossed in this new app called snapchat. it's unclear how much st. francis put in but one report by yahoo finance says they bought $15,000 worth of shares early on which are now worth tens of millions of dollars today but according to the information, that is a san francisco-based tech news site, the school has a much larger stake, $15.2 million worth of early shares which could mean they are worth today $3.2 billion. we are hoping to get some kind of clarity from st. francis today. they are expected to make some statement to the media in the 1:00 hour. we are live in mountain view. kiet do, kpix 5. >>> now let's check the forecast with roberta. >> what do you have to say, just give me one word on how to describe today. ah! >> hm! >> that's a word. >> ah! [ laughter ] >> hi

in 2012 a parent named barry eggers convinced the school to invest $15,000 in the small startup.e years later that install investment adds up to a divine amount of cash. >> selling our 2/3 today is probably somewhere in the neighborhood of $23 million. >> i'm not so sure we call it divine intervention, but tell you what. we can turn $15,000 into the vast amount of money this return will bring, then you have to say god is looking out for us. >> the school plans to use a lot of that money to establish a financial aid endowment. >>> still ahead the risk of cell phone use, a state probably into the dangers never released until now, what it took to get that information exposed. >> a different kind of joyride caught on camera, a driver speeding in traffic in reverse. >> and a view of apple's new headquarters you'll see only on kpix5, sky drone 5 flies over the space ship, what neighbors are saying tonight. ,, police say the elderly driver in michigan had just picked up his car >>> a man was justleaving an auto body shop when he backed into the building behind him. he's an elderly drive

barry eggers is the parent first took the idea of investing in snapchat to the school.s. the adults didn't know about it, but the kids are using it, and they happen to be early adopters. other schools might think, we should start investing in technology companies as well. can this be united around the world? companies as well. can this be united around the world7m united around the world? it can, but it is not easy. in silicon valley especially, other areas with a lot of entrepreneurs, it is great for investors to reach out to local institutions and schools and see if they can include them in some of their deals. something that the popularity of snapchat will be short lived and its value will come crashing down. at saint francis the. plan to wait and they are allowed to sell the remaining shares, they say they probably will. this is an amazing investment and is paying off any transformational way for us. emboldens us to work hard to make sure that we take care of it and do right diet and make sure that we use it. we're here to educate kids and happy we have this opportu

. >> this guy, the dad, barry eggers is the reason why. he was on the board of his high school's growth fund, a venture capitalist. >> i came home from work one day and they were sitting around the kitchen table and my daughter and her friends and my son were all sitting there engulfed in their guys doing? >> after he saw snapping in action, he convinced his company to invest. then the school. the rest is now a lesson in knowing the value of a smart idea. >> right place, right time. it turns out we were in a good position to make the early investment in snapchat. >> a small bet on a big idea paying off in a little extra school spirit. >> also important to note, the school is only cashing in on about two-thirds of shares. so it plans to make even more money on the remaining one-third. as for what it plans to do with that cash? obviously they want to beef up their endowment and make improvements to infrastructure. also important to note, nbc news universal, the parent company of nbc news invested $500 million in snap. >> let's talk about the

. >> reporter: five years ago venture capitalist barry eggers, who had two children attending st. francis, learned about the app and a accused the school's investment board to invest $15,000. >> we have great trust in our parents. remember, the guy who brought this deal to the table, his guys are doing due diligence, they're carefully making sure these are good investments, and look good to the entire committee so we went with it. >> wow. snap, up 44% on the day. >> reporter: palo alto based capital fund manager rudy bergers says this type of success is a hail mary that can happen again. >> if a school is lucky enough to have a pool of cash that they can invest, i certainly wouldn't recommend putting all of it into early stage companies but allocating a percentage of it for that, absolutely. >> reporter: with 50 million brvegged by the end of the day, questions and suggestions are trickling in as to what should happen with the money. >> it's going to do wonders for building new buildings that have been needed around here and for helping out our students. >> reporter: current schoo

five years ago a venture capitalist barry eggers convinced the school's board it should invest in the fledgling snap which is the parent company of snapchat. the private catholic school used its sf growth fund to invest $15,000. >> we have great trust in our parents so remember, the guy who brought this deal to the table, his guys are doing due diligence. they're carefully making sure that these are good investments, and look good to the entire committee so we went with it. >> reporter: snap's mobile app, snapchat, allows users to make and ascend videos and messages which disappear in a day, partially spurred on by the suck of other sites such as face book. snapchat has taken o. today on wall street the parent company finished up 44% of valuation. saint francis stands to get about -- several million dollars, maybe $10 million or so. financial analysts say capturing lightning in a bottle in this way is more than just a traditional hail mary. >> guessing whether a company is going to achieve this type of scale before they really roll tout product before they have the type of market trac

. >> reporter: and this guy, a dad, barry eggers, is the reason why., was on the board of his kids' high school growth fund and made the suggestion to invest after just one night with his teenage daughter. >> i came home from work one day and they were all sitting around the kitchen table and my daughter and her friends and my son were all sitting there engulfed in their phones. i asked them what are you guys doing? >> reporter: after he saw snapping in action, he convinced his company to invest, then the school. the rest is now a lesson in knowing the value of a smart idea. >> right place, right time. turns out we were in a good position to make the early investment in snapchat. >> reporter: a small bet on a big idea now paying off in a little extra school spirit. >> as if we even needed to be told that happened in silicon valley. we should also note that nbc recently announced its own $500 million investment in the company. that's all for me this hour. i'll be back with you at 4:00 p.m. eastern time. so stay tuned. richard lui picks up our coverage f

francis high school and barry eggers, he convinced the school to co-invest along with lightspeed.with you. >> hi. >> mr. eggers, tell me how this happens, you're a parent of a kid in this school, right, and you go to them and say, i have a hot one here and you ought to co-invest with me? >> well, you know, they put together a venture fund back in the late '90s and i was part of it in the 2012 time frame and still am, but at the time, i had gone home and my kids were sitting around the table with a bunch of their friends and they were engulfed in their phones and look at them wondering why they weren't talking to each other and they were giggling an laughing and my daughter said have you seen this app called snapchat. i asked questions about what it was and what it did. my daughter said you know, we send pictures to our friends and they disappear. i asked her what kind of pictures. she said it's funny goofy stuff between friends. and they showed me some examples. i asked them how much they used it and my daughter said i started using it about five times a day but now i use it 30 ti