Zoom pops 81% in Nasdaq debut


Shares of Zoom (Nasdaq: ZM) began trading at $ 65 a pop Thursday morning after the video conferencing unicorn priced its shares at $ 36 apiece Wednesday, above its anticipated range.

The company initially planned to price its shares at between $ 28 and $ 32 per share, but following big demand for a piece of a profitable tech business, Zoom increased expectations, announcing plans to sell shares at between $ 33 and $ 35 apiece.

The initial public offering gives Zoom a fully diluted market cap of roughly $ 16 billion, or 16 times larger than the $ 1 billion valuation it garnered with its last round of private funding in 2017.

Fundings & Exits – TechCrunch