Meaning of the word "snap up" in English

What does "snap up" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

snap up

US /snæp ʌp/
UK /snæp ʌp/

Phrasal Verb

to buy something quickly because it is cheap or exactly what you want

Example:
The new phones were snapped up as soon as they went on sale.
Investors were quick to snap up shares in the company.