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Pinterest, Zoom Video Debuts Set Pace for Unicorns' IPO Derby

  • Zoom’s first-day share climb leaves founder wishing for less
  • Above-target IPOs make for 2019’s biggest day for new listings
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Zoom CEO Yuan Is Feeling the Pressure

Pinterest Inc. and Zoom Video Communications Inc. hit the public markets Thursday in soaring debuts, setting the pace for other so-called unicorns racing toward initial public offerings.

Zoom’s dizzying ascent -- its shares rose as much as 83 percent before closing up 72 percent -- left founder and Chief Executive Officer Eric Yuan lamenting the high price and the pressure it puts on the company. That concern arose despite Yuan becoming a billionaire three times over as the video-conferencing company soared to a value of $15.9 billion after its $751 million IPO. Just two years ago, Zoom was valued at only $1 billion in a private funding round.