Video conferencing company Zoom prices IPO at $36 per share, giving it a $9.2 billion valuation — 9 times its last private valuation

This values Zoom at $9.2 billion, up from its last private valuation of $1 billion.The video communication companypriced its IPO at $36 per share on Wednesday, above its expected range, a source familiar with the process told Business Insider.

This values the company at $9.2 billion — about 9 times its last private valuation of $1 billion in 2017. CNBCThe company is expected to start trading Thursday on Nasdaq under the ticker symbol"ZM." It will be joined by, another unicorn company valued over $1 billion, which is also expected to list on Thursday, this time on the New York Stock Exchange under the ticker"PINS."

Zoom's IPO price comes in above the $33 to $35 price range set by the company in a filing on Tuesday. An earlier version of Zoom's S-1 from April 8 had set its range much lower, at $28 to $33 per share.Billion-dollar startup Zoom filed to go public — and shares of a totally unrelated company also called called Zoom shot up 1,100%

Zoom, which sells cloud video communication software for use in the workplace, was founded in 2011 by CEO Eric Yuan, who was previously vice president of engineering at the video-conferencing company WebEx. Yuan joined Cisco in 2007 when it bought WebEx for $3.2 billion.The company reported $330.5 million in revenue in fiscal 2019, which ended January 31. That's up 118% from $251.4 million in fiscal 2018. In 2019, $6 million of that revenue was profits.

Based on my zoom conference call yesterday I would short it.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Zoom prices IPO at $36 per share, valuing videoconferencing company at $9.2 billion: SourceZoom prices its initial public offering at $36 per share, sources told CNBC Wednesday. Is some making a profit?! $9.3b cap? I don't think so.
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »

Zoom Video IPO: 5 things to know about the videoconferencing companyZoom Video Communications Inc. in the coming week plans to join an already active season of initial public offerings as the videoconferencing company and is...
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

IPO market faces biggest week of 2019 so far with Pinterest, Zoom and Greenlane on tapThe initial public market is bracing for its biggest week of the year so far with eight deals on tap expected to raise $2.5 billion in proceeds.
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

Pinterest and Zoom to Test IPO Market After Lyft’s StumbleA pair of technology unicorns will launch themselves into the public markets Thursday, hoping the messy recent debut of Lyft Inc. is in the rearview mirror.
Источник: WSJ - 🏆 98. / 63 Прочитайте больше »