Snapchat stock finishes up 44% on first day

> companies normally try to price it so it goes up about 20 percent on the first day

Can someone explain this to me? Why would a company try to sell its shares for less than they could get? When I see something like this - 44% up on the first day - I immediately think that this was a complete failure as an IPO, because the company left so much money on the table.

Am I crazy? Or can someone set me straight.

After going public you need to become profitable and provide value to shareholders, not just users.

We'll see if they can do it like Facebook or they'll be like Twitter.

I would love to be able to short this stock right now.