Deals
Profitable Zoom Video Tops $9 Billion Valuation After IPO
- Video-conferencing company last valued at $1 billion in 2017
- Shares priced above the top of increased range, at $36 each
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Profitable video-conferencing provider Zoom Video Communications Inc. will be valued at more than $9 billion in its public market debut Thursday, more than nine times the amount it fetched in a private funding round just two years ago.
Zoom raised $751 million in an initial public offering Wednesday, selling 20.9 million shares Wednesday for $36 each, according to data compiled by Bloomberg.