New technology firms that go public can behave like a drunk driver behind the wheel of a car but should not be written off and could become big businesses, Polar Capital Fund Manager Ben Rogoff told CNBC on Tuesday.

Rogoff referenced the rough start to trading that both Facebook and Google had when they started trading but said that they had become major players now. The fund manager called Facebook "one of the best companies on earth".

The comments were made in relation to Snap and is initial public offering. Rogoff said it was hard to know whether it would become as big as Facebook or struggle like Twitter has done.

"These companies that come along and change the world often look like drunks at the wheel of a car… and then what happens is they reach a certain size where they can start pulling levers on monetization and ad-load and all of a sudden they look like very real businesses," Rogoff told CNBC.

The parent company behind the popular messaging app Snapchat has witnessed somewhat of a rollercoaster ride in terms of its share price since its IPO on March 1. However, the stock has surged by almost 20 percent in the past week.