There may have been some confusion here.
The stock later erased those gains after Snap opened for trading, closing the day down more than 4 percent.
Snap Interactive, traded under the ticker symbol "STVI," develops social networking and dating applications, according to its website. For example, Snap Interactive created online video chat community Tinychat and a video chat app called Paltalk.
This is not the first time this has happened.
Back in February, when Snap detailed its IPO plans, shares of New York-based Snap Interactive surged to highs above $20.
"As a policy, we don't speculate on stock price," Snap Interactive CFO Judy Krandel told CNBC in a phone interview. "We're all in the social media space," she added, referring to the excitement surrounding Snap's public debut. "But we are a new story."