Zoom Video Surges Past Lyft and Pinterest as Value Tops $20 Billion
This article is for subscribers only.
Surging shares of Zoom Video Communications Inc. since its debut last month have made it more valuable than Lyft Inc. and Pinterest Inc.
The conferencing technology company has gained 120 percent since it sold shares at a valuation of $9.2 billion on April 17, making it the best performing initial public offering of the year to raise at least $300 million, according to Bloomberg data. Zoom’s $20.6 billion market capitalization now exceeds Lyft at $17.9 billion and Pinterest at $15.3 billion.