Zoom pops 81% in Nasdaq debut – TechCrunch

Shares of Zoom (Nasdaq: ZM) began trading at $65 a pop Thursday morning after the video conferencing unicorn priced its shares at $36 apiece Wednesday, above its anticipated range.

The company initially planned to price its shares at between $28 and $32 per share, but following big demand for a piece of a profitable tech business, Zoom increased expectations, announcing plans to sell shares at between $33 and $35 apiece.

The initial public offering gives Zoom a fully diluted market cap of roughly $16 billion, or 16 times larger than the $1 billion valuation it garnered with its last round of private funding in 2017.

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