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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 Рits shares at the start of trading grew by 25%.

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