- Video conferencing company Zoom has set an IPO price range of $US28 to $US32 per share, giving the company a $US8.25 billion valuation on the upper end of the range.
- Zoom is expected to start trading next week on the Nasdaq under the ticker “ZM.”
- Zoom’s IPO valuation is many-times its last valuation of $US1 billion. But not everyone in the upcoming IPO cohort is in the same position.
- Pinterest also priced its IPO on Monday, though its range is below its last private funding valuation. And the recently public Lyft is trading below its IPO price.
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Video conferencing company Zoom could be valued as high as $US8.25 billion following its upcoming initial public offering, giving it a major lift from its last private valuation of just $US1 billion.
Zoom set its IPO price range at $US28 to $US32 per share in an updated filing on Monday. At the midpoint of that range, Zoom would be worth $US7.7 billion. The company is expected to start trading next week on the Nasdaq under the ticker symbol “ZM.”
In addition to the price range, Zoom disclosed a $US100 million private placement from Salesforce at the IPO price.
Zoom’s pricing for its IPO – which is led by Morgan Stanley, JPMorgan, Goldman Sachs and Credit Suisse – comes on the end of a rough week for Lyft, the first unicorn IPO of the year, which set the tone for bankers and traders alike.
Things seemed swell when Lyft went public on March 29 far above its initial price range, but the company spent the following week trading below its opening price on the public markets. The ride-hailing company initially priced between $US62 and $US68, before raising its range and going public at $US72 per share. On Monday morning, Lyft traded around $US71.80 per share.
Pinterest, another member of the unicorn IPO cohort, also priced its IPO on Monday at a valuation below its last private funding round. The company priced its IPO at $US15 and $US17 a share, giving it a valuation of $US11.3 billion at the upper end of the range. It was most recently valued at $US12.3 billion 2017.
- Here’s what you need to know about Jumia, the Alibaba of Africa that’s getting ready to IPO on the New York Stock Exchange
- JPMorgan and Credit Suisse will get paid almost equal amounts for helping take Lyft public, and it’s part of a growing trend for IPO fees
- Pinterest’s IPO structure could give CEO Ben Silbermann the right to control the company from beyond the grave
- Lyft’s bankers are trying to compare the ride-hailing app to Grubhub and luxury retailer Farfetch – here’s their pitch to investors
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