Zoom Videoconferencing Service went public – the company’s shares rose 74% at the start of trading

Unlike other companies, “unicorns” worth more than $ 1 billion Zoom brings profit.

The video conferencing service Zoom started trading stocks on the Nasdaq exchange. Their cost at the start of trading increased by 74%.

The company planned to raise $ 356.8 million with a total valuation of $ 9.2 billion after an IPO. At the auction, Zoom shares cost $ 61.6 per share at the stated price of $ 36 per share. The company ‘s market value is estimated at $ 16.2 billion.

Zoom Video Communications was founded in 2011 by engineer Eric Yuan, who also launched the WebEx online conferencing service. The Zoom platform combines cloud video conferencing, online meetings, a conference room, and group messaging. The service earns on paid packages, it also has a free basic version.

Over the past three financial years, the company’s revenue grew by more than 100%: $ 60.8 million in January 2017, $ 151.5 million for 2018 and $ 330.5 million for the fiscal year ending in January 2019.

Simultaneously with Zoom, the photo hosting site Pinterest began to bargain on the stock exchange – its shares at the start of trading grew by 25%.