Zoom a profitable unicorn is set to make its stock-market debut

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Zoom — a profitable unicorn — is set to make its stock-market debut

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Zoom

• Zoom Video Communications is set to begin trading on the Nasdaq on Thursday.
• The video-conferencing company priced its initial public offering at $36 a share, raising that this week amid high demand.
• Setting it apart from other unicorns, or private companies worth more than $1 billion, Zoom is profitable.
• Visit MarketsInsider.com for more information about Zoom.

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Zoom Video Communications Inc. is set to begin trading on the Nasdaq on Thursday.

The video conferencing-company priced the initial public offering at $36 a share. That would value its business at $9.2 billion, more than nine times its private valuation. Shares were expected to price between $33 and $35 apiece.

Setting it apart from other unicorns, or private companies worth more than $1 billion, Zoom is profitable. A fast pace of growth has drawn attention to the eight-year old company, which was founded by Eric Yuan, the former vice president of engineering at the video-conferencing company WebEx.

Another technology unicorn, digital image board company Pinterest, is set to debut Thursday. Ride-hailing giant Lyft was the first tech unicorn to enter public markets this year, but has struggled since its debut last month.

Zoom's shares will trade under the ticker symbol ZM.

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via Business Insider http://bit.ly/1IpULic

April 18, 2019 at 09:09AM