Zoom Video Communications, which makes video conferencing technology people use for work, came out as a dark horse (or perhaps a dark unicorn), its shares surging about 81% when they began trading and ending the day up 72% at $62. Pinterest said in its IPO filing that it reaches more than 250mn monthly active users, two-thirds of whom are female. It is popular among creative professionals such as designers and architects, as well as couples sharing interior design...
Yuan, Zoom's CEO, said that he thinks that the San Jose, California-based company can live up to the hype. "Pinterest is not a pure media channel, nor is it a pure utility".
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There's some tech jubilance in the air on Wall Street and in Silicon Valley as a pair of newly public companies - Zoom and Pinterest - are seeing their stocks soar on their first trading day.
Zoom joined the growing list of tech companies going public, presented as one of the most profitable company in the category, which brought an IPO estimation of over 9 billion dollars for Zoom. The company was valued at $9.2bn when it floated at $36 a share, but its price rose to $66. That is a clear difference that helps explain respective valuations at the end of the day. According to James Cordwell, an analyst at Atlantic Equities, Pinterest is worth as much as Snap, about $16bn, and could be much more. The photo platform is collected at the time of the IPO with the issuance of 75 million shares, a total of 1.43 billion dollars (1.27 billion euros) to investors. Mogharabi said he expects a 35% compound annual growth rate for Pinterest through 2023, partly driven by the digital advertising market. 'Pinterest is one of the few friendly corners of the Internet, he said.
Pinterest said it had a turnover of $755.9 million in 2018, just under twice the 2017 fiscal year, and a net loss of nearly $68 million, down to about half the figure for the year before.