Shares jumped 72% on its opening day, putting the company's valuation at almost $16 billion.
At 19 US dollars per share, Pinterest, which offers advertisers a venue to sell to consumers, raised around 1.4 billion USA dollars at a roughly 12.7 billion US dollars valuation. Many companies already use Pinterest to advertise their products, both through user pins and through advertising, so Pinterest has a natural path into e-commerce.
Yuan, Zoom's CEO, said that he thinks that the San Jose, California-based company can live up to the hype.
Red Wings announce news conference with Steve Yzerman this afternoon
Yzerman's return will be heralded in Detroit, and now he'll face more pressure as a front office member than he ever has. Yzerman's family remained in Detroit while he was with the Lightning, and he commuted during his time on the job.
On April 18th, Pinterest (NYSE:PINS) had its first day of trading on the New York Stock Exchange.
Shares of online scrapbook company Pinterest Inc surged 25 percent in their debut on Thursday, giving it a market capitalization of $15.8 billion and signalling increased investor appetite for new tech listings. The IPO price provided the company with a fully diluted market cap of $12.6 billion, a figure that is slightly larger than its Series H valuation of $12.3 billion. According to James Cordwell, an analyst at Atlantic Equities, Pinterest is worth as much as Snap, about $16bn, and could be much more. "That's going to be how we continue to run the business". In a dig to social media services, Pinterest made it clear in its video to investors that ads are a tax to the user on social media.
Levine said he doesn't see Facebook and Google's dominance in digital ads as an insurmountable duopoly. At the end of the year, it has brought the platform to 265 million active users and could reduce their loss of 130 million to $ 63 million. Investors are also aware of the potential threat that Instagram poses.
What sets Zoom apart from the bevy of tech companies slated to IPO in 2019 is that it's profitable, a rare feat for any tech firm, unicorn or not.