The offering of 75 million shares was priced at $19, above the expected range of $15 and $17, and raised $1.4 billion in net proceeds. It expects to report 291 million global monthly active users as of March 31, up 22 percent from a year earlier.
Yuan, Zoom's CEO, said that he thinks that the San Jose, California-based company can live up to the hype. Pinterest has taken a slow and steady approach to growth and making money from the service, compared with the faster expansion rates of Facebook, Twitter Inc., and Snap Inc. when they went public.
Pinterest, the digital scrapbooking site, surged in its debut as a publicly traded company on the New York Stock Exchange, finishing the day more than 25% higher than its original price as investors momentarily rallied around technology's latest unicorn. Though investors have a history of welcoming high profile companies like Pinterest, Zoom also convinced investors of its worth, which was likely not that hard of a sell.
Harry Kane Could Play Again This Season - Pochettino
I honestly think he deserves it; he's so young. "If I lose it's because the opponent beat me or beat us", Guardiola said. But, that said, the fighting spirit and results that we have earned have been hugely enjoyable.
Pinterest Inc's initial public offering set the online scrapbook company's valuation at 12.7 billion US dollars on Wednesday, above its expectations and a sign of strength for the tech IPO market after Lyft Inc's struggles. That concern arose despite Yuan becoming a billionaire three times over as the video-conferencing company soared to a value of $15.9 billion after its $751 million IPO. That is a clear difference that helps explain respective valuations at the end of the day.
Much like their tech peers, Pinterest and Zoom will offer dual-class shares, but the two Silicon Valley darlings have one fundamental difference as they get ready to IPO. In contrast to Pinterest Zoom in 2018 and made a small profit of about 7.6 million dollars. Even if the item is relevant, people aren't interested in seeing an ad for a pair of shoes they may have looked at casually a while back when they were trying to talk to their friends. Pinterest, after all, isn't about sharing with friends and following celebrities.
Pinterest's revenues have been growing steadily by 60pc between 2017 and 2018 and it has reduced losses from $130m in 2016/17 to $64m in 2018.