initial public offerings (IPOs) trading on American exchanges

Thursday, April 18, 2019

Zoom Video Communications (ZM) began trading on the Nasdaq on Thur 18 Apr 2019

  • Sector: Communication Services
  • Industry: Telecom Services
  • Full Time Employees: 2,240
  • Founded in 2011
  • HQ in San Jose, California
Zoom Video opened for trading at $65.00 after pricing 20.87 mln share IPO at $36, above the increased $33.00-35.00 range
Zoom, whose shares finished at $62, raised nearly $350 million through its IPO

Zoom had a $7.6 million profit on $330.5 million in sales during its fiscal 2019, according to its regulatory filings. In 2018, Zoom lost $3.8 million on $151.5 million in revenue.

Zoom’s CEO Eric Yuan

Zoom plans to target the hiring of recent computer science graduates in cities like Kansas City and Sacramento, where salaries aren’t as high as in Silicon Valley, where it’s based. Currently, 500 of the company’s 1,702 workers are in China, according to its regulatory filings, leaving unsaid that wages there are lower.

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