Shares in start-up Snap jumped 164% after investors mistook it for Snapchat

Shares in little known start-up Snap Interactive have almost doubled in value in recent days after investors eager to cash in on the initial public offering of Snap Inc, the maker of the photo-app Snapchat, mistook it for the popular app. Snap, last week, said it had filed for a $3bn initial public offering that could be the largest stock market floatation of a US tech company in years. In what seems to be a case of mistaken identity, overeager investors rushed to invest sending shares of Snap I