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Catholic high in ‘Silicon Valley’ reaps millions from Snapchat investment

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MOUNTAIN VIEW, Calif. — A California Catholic high school did away with future car washes and pizza kit sales March 2 when the $15,000 investment it made with Snap Inc., the company that developed the messaging app Snapchat, sold shares to the public and the school stepped into a windfall of at least $24 million.

The Snapchat logo.

The Snapchat logo.

“The school’s investment in Snap has matured and given us a significant boost,” Simon Chiu, president of St. Francis High School, in Mountain View, said in a letter to parents posted on the school’s website.

The “significant boost” will be used for financial aid, professional development, teacher training and funding of school programs and will not support the school’s annual operating expenses, the letter said.

St. Francis is in the Diocese of San Jose and is sponsored by the Holy Cross Brothers. It began in 1955 as a boys school and merged with Holy Cross High School, run by Holy Cross Sisters in 1972, becoming co-ed. Tuition at the school for the current year is $17,370, which the school’s website points out is the lowest in the region for private coed high schools. Last year the school provided $3.2 million in tuition assistance.

The school, 40 miles south of San Francisco, is in the same town as Google’s headquarters in Silicon Valley, considered the technology hub of the U.S.

The idea for investing in the messaging app that sends photos and videos which disappear after viewing, came from a school parent, Barry Eggers, who also happens to be a venture capitalist. His two teenage children and their friends were big fans of the Snapchat app in 2012, just a year after it got started. So Eggers convinced members of the school’s investment fund, which was begun in 1990, to join his company, Lightspeed, in making an initial investment with with Snap Inc.

On March 2 when the company’s shares went public, St. Francis sold 1.4 million of its shares generating at least $24 million.

“These are exciting and humbling times for St. Francis High School,” the school’s president wrote to parents. “I am grateful for our community’s continued support and partnership, and I look forward to sharing more details with you in the weeks and months ahead about how this opportunity will help us to achieve our goals.”

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‘I strive to continue’ — Retired Pope Benedict says he felt a ‘duty’ to resign

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Catholic News Service

VATICAN CITY — Retired Pope Benedict XVI said in an interview that he felt a “duty” to resign from the papacy because of his declining health and the rigorous demands of papal travel. Read more »

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World Youth Day message: Find joy in Christ, not in money

March 27th, 2012 Posted in Vatican News Tags: , ,

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Catholic News Service

VATICAN CITY — Pope Benedict XVI called on young people to not pursue power, money and prestige, but to find true joy in Christ and live a life of generous service to others.

In his message for World Youth Day 2012, he told the world’s young Catholics to start making the world a better, more just and humane place right now, even while they continue to pursue their studies, talents and interests.

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Outstanding priests of diocese keep the faithful supportive, Bishop Malooly tells pope

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Dialog Editor

Pope Benedict XVI told Bishop Malooly Jan. 19, “I am aware of the struggle you had in Wilmington.”

Bishop Malooly was meeting with the pope during his periodic “ad limina” visit to the Vatican with other U.S. bishops from Maryland, Virginia, West Virginia, the Military Services archdiocese and the Virgin Islands.

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Americans a ‘pro-life people,’ House Speaker tells rally

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Catholic News Service

WASHINGTON — Americans “as a people are pro-life” because life and liberty “are intertwined and form the core of our national character,” House Speaker John Boehner told the crowd gathered on the National Mall Jan. 23 for the 39th annual March for Life.

“God who gave us life gave us liberty,” said the Ohio Republican, who is a Catholic. He added that his pro-life stand isn’t political, “it’s just who I am.”

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Banners, t-shirts, balloons proclaim pro-life crowd’s convictions

January 24th, 2012 Posted in Featured, National News Tags: , , ,

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Catholic News Service

WASHINGTON — Mark Hosbein stood on the corner of a busy Washington intersection under the steady rain Jan. 23 with a small duffle bag at his feet and a simple message for passers-by: “Please consider spiritually adopting an unborn baby who is in danger of abortion.”

Handing a reporter one of his brochures, Hosbein said as president of Hearts For Life, he is following the lead of the late Archbishop Fulton J. Sheen, who promoted the idea of spiritual adoptions for the unborn years ago.

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Pope’s visit Mexico March 23-26

December 28th, 2011 Posted in International News Tags: , , , ,

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MEXICO CITY — A spokesman for the Mexican bishops’ conference confirmed details of Pope Benedict XVI’s upcoming visit to Mexico originally published by the newspaper Reforma, which reported the papal visit would occur March 23-26.

The spokesman, Father Manuel Corral, stressed that details of the visit “are not official,” although he said the pope would only visit the state of Guanajuato and its environs in west-central Mexico. Father Corral said specific details of the visit would likely be made public before the end of the year.

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Cuban bishops confirm papal visit in 2012

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HAVANA — The Cuban bishops announced that 2012 would be a Marian jubilee year and that Pope Benedict XVI would come to Cuba as a “pilgrim of La Caridad,” the popular name for the Virgin of Charity of El Cobre, the country’s patroness.

In a Dec. 8 pastoral letter, they declared a jubilee year from Jan. 7, 2012, through Jan. 6, 2013, and said Cubans need the joy of faith, the strength of Christian love, and the light of hope that can come from “a reunion with our Christian roots” and with the “enthusiastic reception of the teachings of Jesus Christ.”

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