Video conferencing company Zoom could be valued at $8 billion in upcoming IPO
Video conferencing company Zoom could be valued as high as $8.25 billion following its upcoming initial public offering, giving it a major lift from its last private valuation of just $1 billion.
Zoom set its IPO price range at $28 to $32 per share in an updated filing on Monday. At the midpoint of that range, Zoom would be worth $7.7 billion. The company is expected to start trading next week on the Nasdaq under the ticker symbol "ZM."
In addition to the price range, Zoom disclosed a $100 million private placement from Salesforce at the IPO price.
Zoom's pricing for its IPO — which is led by Morgan Stanley, JPMorgan, Goldman Sachs and Credit Suisse — comes on the end of a rough week for Lyft, the first unicorn IPO of the year, which set the tone for bankers and traders alike.
Things seemed swell when Lyft went public on March 29 far above its initial price range, but the company spent the following week trading below its opening price on the public markets. The ride-hailing company initially priced between $62 and $68, before raising its range and going public at $72 per share. On Monday morning, Lyft traded around $71.80 per share.
Pinterest, another member of the unicorn IPO cohort, also priced its IPO on Monday at a valuation below its last private funding round. The company priced its IPO at $15 and $17 a share, giving it a valuation of $11.3 billion at the upper end of the range. It was most recently valued at $12.3 billion 2017.
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Becky Peterson was formerly a tech features correspondent focused on long-form profiles and investigations into the most interesting people and companies at the intersection of technology and finance.She's broken news on major tech stories including Palantir's work on Project Maven, Peter Thiel's $18 million estate in Miami (which was once featured on MTV's 'The Real World'), Jeffrey Epstein's tour of SpaceX, and Uber CEO Dara Khosrowshahi's insistence that employees take "the D."Previously, she covered enterprise tech and tech investment banking with a focus on M&A, IPO and venture capital deals in San Francisco. She graduated from New York University with a master's degree in media, culture and communication with an emphasis on technology and society. ExpertiseSilicon Valley, Venture Capital, Investment Banking, Jeffrey Epstein, Ghislaine MaxwellPopular articlesInside the turmoil at the Bill & Melinda Gates Foundation, where employees say divorce, Epstein, and vaccines have left some staffers polishing their résumésThe secret life of Ian Osborne, the shadowy 38-year-old cofounder of Chamath Palihapitiya's SPAC who has built the ultimate black book of billionairesSilicon Valley VCs are at war with the 'far left radicals' running CaliforniaInside the life of Ghislaine Maxwell's secret husband, a once-high-flying tech entrepreneur backed by Eric Schmidt who is now a central figure in one of the country's most high-profile legal casesRent the Runway CEO Jennifer Hyman, one of the most successful female founders, is fighting to save her companyJeffrey Epstein set Elon Musk's brother up with a girlfriend in effort to get close to the Tesla founder, sources sayA drunken late-night assault allegation has roiled the secretive world of Mark Zuckerberg's private family office. Personal aides are speaking out about claims that household staff endured sexual harassment and racism from their colleagues.