Zoom Video Is Set to Price IPO as a Rare Profitable Tech Startup
- Video-conferencing provider increased price range Tuesday
- Could have market value of $9 billion, exceeding last funding
Zoom video conferencing.
Source: Zoom Video Communications Inc.
So-called unicorns – private companies valued at more than $1 billion – have started to move toward the public markets in droves, with Lyft Inc., Uber Technologies Inc. and Pinterest Inc. all joining the rush of technology companies holding initial public offerings.
This week, an even rarer type of tech startup will join them: one that actually makes money. Zoom Video Communications Inc., a San Jose-based provider of video conferencing services, is set to price its shares Wednesday and start trading on the Nasdaq Global Select Market Thursday. In its first IPO filing, Zoom reported net income of $7.6 million for the year ended January on revenue of $331 million, compared with a loss of $3.8 million a year earlier on revenue of $151 million.