Zoom celebrates its IPO with an outdoor party in downtown San Jose



[ad_1]

SAN JOSE – Zoom Video Communications partying Friday night in downtown San Jose as if nothing had happened, 2019.

Videoconferencing and cloud-based web conferencing were released this week and went to a lively evening on San Pedro Square on Friday to celebrate the success of the technology company.

Employees wore Zoom shirts during the event in the heart of the city's busiest downtown, at night and restaurants, passing under an arch bearing the company's name to enter the celebration area.

"It's great that Zoom does it for us," said a Zoom employee who was heading to the outdoor party held in the shadow of old office buildings and new residential towers in downtown San Jose. , some of which are still under construction this week.

The Zoom workers greeted each other and kissed as they mingled with the day after the company's initial public offering. Pizzas, beer, wine and cocktails were very present in the large gathering areas for the Zoom party which took place inside and outside the main building of San Pedro Square on Friday. evening.

"It's wonderful to see a local company grow and keep the enthusiasm of a start-up," San Licensor Sam Liccardo said Friday in an interview with the news agency.

Several Zoom employees surveyed outside of the event said they like to work for the company and be located in the city center.

"There is a real enthusiasm for Zoomers both for the company and for San Jose," said the mayor.

Zoom's IPO, priced at $ 36 per share, is above the proposed selling range of $ 33 to $ 35, raising $ 751 million on April 17.

Shares of the company climbed 72.2% above the introductory price on Thursday and closed at $ 62 on the first trading day. Stock markets were closed on Good Friday.

For fiscal year 2019 ended January 31, Zoom achieved a turnover of $ 330.5 million, up 118% – more than double – with a turnover of 151.5 million for 2018.

Losses have been steadily decreasing in recent years for Zoom. Zoom reached financial equilibrium during the 2019 fiscal year, a dramatic improvement over the $ 14.4 million losses in Fiscal 2017 and $ 8.2 million in leases. year 2018.

"No one was more proud than me to see a local company on a world stage sounding the death knell at NASDAQ," Liccardo said.

[ad_2]
Source link