Profitable Zoom Video Tops $9 Billion Valuation After IPOMore
(Bloomberg) — Profitable video-conferencing provider Zoom Video Communications Inc. will be valued at more than $9 billion in its public market debut Thursday, more than nine times the amount it fetched in a private funding round just two years ago.
Zoom raised $751 million in an initial public offering Wednesday, selling 20.9 million shares Wednesday for $36 each, according to data compiled by Bloomberg.
The listing is set to be fourth biggest in the U.S. so far this year, after Lyft Inc.’s $2.34 billion IPO and Tradeweb Markets Inc.’s $1.24 billion offer in March. Digital scrapbook company Pinterest Inc. is seeking to raise as much as $1.27 billion in its IPO Wednesday.
Uber Technologies Inc., whose IPO is expected