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Pinterest (NYSE: PINS) is a public company. Ben Silbermann's virtual bulletin board rose 25 percent from its NYSE debut to $ 23.75 per share. Currently, shares of his shares are up 2%, trading at over $ 24 each.
The company has set the price of its shares above the range of last night at $ 19 each. The IPO price gave the company a fully diluted $ 12.6 billion market capitalization, slightly higher than its $ 12.3 billion Series H valuation.
After selling 75 million Class A shares, Pinterest has $ 1.4 billion in cash to deal with the trials and tribulations of the limited company.
Pinterest saw a surge of activity in its early days despite fears that Lyft's weak performance in the stock market is casting a shadow over its offering. The roving sales activity reached the peak of its range three weeks ago and registered an IPO of 21%. Since then, it has fallen below the price of its IPO and is currently trading at around $ 58 per share.
We will have to sit down and wait to see if Pinterest suffers the same fate.
Zoom, another unicorn IPO that fell on the same day as Pinterest's big debut, exploded 81% from the first day of trading.
Shares of the videoconferencing company began trading at $ 65 this morning after the company set the price of its shares at $ 36 each on Wednesday, a value above its expected range. The company originally planned to price its shares between $ 28 and $ 32, but due to strong demand for a profitable technology sector, Zoom has raised its expectations, announcing its intention to sell its shares between $ 33 and $ 35. piece.
Pop gives Zoom a fully diluted market capitalization of approximately $ 16 billion, which is 16 times more than the $ 1 billion valuation obtained in its last round of private financing in 2017. Yes, it's Zoom, a company that raised less than $ 200 million in venture capital, is worth more than Pinterest, a great success of Silicon Valley that has attracted nearly $ 1.5 billion in venture capital funds.
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