Pinterest (NYSE: PINS) is a public company. Ben Silbermann's virtual pinboard rose 25 percent in his NYSE debut, opening at $ 23.75 per share. Currently, the shares in the shares are up another 2 percent, trading at more than $ 24 each.
The company priced the shares over range last night at $ 19. The IPO award gave the company a fully diluted market value of $ 12.6 billion, a figure slightly larger than the series' H valuation of $ 12.3 billion.
Having sold 75 million A shares, Pinterest has a new $ 1.4 billion of cash to navigate trials and troubles to be a public company.
Pinterest saw a boost in debut despite the fact that Lyft's poor performance on the stock market would provide a shadow on the offer. The riding activity priced at the top of its range three weeks ago and saw a 21
We have to sit back and wait to see if Pinterest suffers from the same fate.
Zoom, another unicorn introduction that happened to fall on the same day as Pinterest's big debut, has skyrocketed 81 percent on its first trading day.
Stocks of the videoconferencing industry began trading at $ 65 a pop today after the company priced its $ 36 shares every Wednesday, over its expected range. The company originally planned to price its shares between $ 28 and $ 32 per share, but after much demand for part of a profitable tech business, Zoom increased expectations and announced plans to sell stocks between $ 33 and $ 35.
Pop gives Zoom a fully diluted market value of around $ 16 billion, or 16 times the $ 1 billion valuation it achieved with its last round of private funding in 2017. Yes, that means Zoom, a company that raised less than $ 200 million in venture capital, worth more than Pinterest, a beloved Silicon Valley success story that attracted nearly $ 1.5 billion in VC funding.