Zoom is backed by Emergence Capital, which owns a 12.2 percent pre-IPO stake Sequoia Capital (11.1 percent) Digital Mobile Venture, a fund affiliated with former Zoom board member Samuel Chen (8.5 percent) and Bucantini Enterprises Limited (5.9 percent), a fund owned by Chinese billionaire Li Ka-shing.
Its losses have shrunk from $14 million in 2017, $8.2 million in 2018 and just $7.5 million in the year ending January 2019.It more than doubled revenues from 2017 to 2018, ending 2017 with $60.8 million in revenue and 2018 with $151.5 million.It posted $330 million in revenue in the year ending Januwith a gross profit of $269.5 million.Zoom raised a total of $145 million from venture capitalists before filing to go public.If you haven’t had the chance to dive into Zoom’s IPO prospectus, here’s a quick run-down of its financials: Zoom plans to sell 9,911,434 shares of Class A common stock in the listing, to bring in about $350 million in new capital. The offering gives Zoom an initial market cap of roughly $9 billion, or nine times that of its most recent private market valuation. The company initially planned to price its shares at between $28 and $32 per share, but following big demand for a piece of a profitable tech business, Zoom increased expectations, announcing plans to sell shares at between $33 and $35 apiece.
The video conferencing business priced its IPO above its planned range on Wednesday, confirming plans to sell shares of its Nasdaq stock, titled “ZM,” at $36 apiece, CNBC reports. Zoom, a relatively under-the-radar tech unicorn, has defied expectations with its initial public offering.
0 kommentar(er)
