Video conferencing software developer Zoom is a relatively low-key unicorn, this time through the IPO (initial public offering) is eye-catching. According to CNBC website reported , they end up on Wednesday to finalize the IPO price, higher than the previous range, and confirm your plans at a price of $ 36 per share for the sale of its shares on the Nasdaq under the ticker symbol "ZM".
The company originally planned to set the IPO issue price between $28 and $32 per share. However, due to the huge demand for a technology company that has already achieved profitability, Zoom raised the issue price range and announced plans to 33 per share. The stock is sold at a price of US$35.
The latest IPO pricing will give Zoom an initial market capitalization of around $9 billion, nine times its latest valuation in the secondary market.
Zoom plans to sell 9,911,434 Class A common shares in this publicly traded transaction to raise approximately $350 million in new funds.
If you haven't had a chance to study Zoom's IPO prospectus carefully, here's a quick look at the company's financial data:
Zoom raises $145 million from venture capitalists before submitting an IPO application
In the fiscal year ended January 31, 2019, Zoom achieved revenue of $330 million and gross profit of $269.5 million.
From 2017 to 2018, Zoom revenue more than doubled: 2017 full year revenue of $60.8 million, 2018 full year revenue of $151.5 million
Losses decreased from $14 million in 2017 to $8.2 million in 2018; in the fiscal year ending January 2019, the loss was only $7.5 million
Among Zoom investors, Emergence Capital holds 12.2%, Sequoia Capital holds 11.1%, and Digital Mobile Venture (a fund associated with former Zoom Board member Samuel Chen) holds 8.5%. Bucantini Enterprises Limited holds 5.9% of shares – a fund owned by Chinese billionaire Li Ka-shing.
Zoom will be available on the same day as Pinterest, except that the former will be on the NASDAQ and the latter will be listed on the New York Stock Exchange. According to The Wall Street Journal , Pinterest's IPO issue price is also higher than previously announced.
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