Zoom Prices its IPO at $36 a Share

Many are waiting for Zoom’s debut in the market and this week Wall Street found out that the video-conferencing software company has priced its initial public offering at $36 a share.

According to reports from Bloomberg and CNBC, the IPO price came in after the bell on Wednesday and the company has a valuation of roughly $9.2 billion

The offering has raised $751 million says Bloomberg, making the IPO the fourth largest this year.

Zoom is now expected to list on the Nasdaq on Thursday morning and will be trading under the ticker “ZM” and will have dual-class shares. A little under 10 million Class A shares will be offered to investors.

In fiscal 2017, Zoom saw revenue of nearly $60 million, and about $150 million in fiscal 2018 and $330 million for fiscal 2019. Zoom posted net income of $7.4 million for fiscal 2019.

The company is headquartered in San Jose, California and provides remote conferencing services using cloud computing. Zoom offers communications software that combines video conferencing, online meetings, chat, and mobile collaboration.

The company was founded in 2011 by CEO Eric Yuan, who was previously vice president of engineering at the video-conferencing company WebEx.