Pinterest (NYSE: PINS) is a public company. Ben Silbermann’s virtual pinboard rose 25 percent in its NYSE debut, opening at $23.75 per share. Currently, shares of its stock are up another 2 percent, trading at more than $24 each.
The company priced its shares above range last night-time at $19 apiece. The IPO price gave the company a fully diluted mart cap of $12.6 billion, a figure slightly larger than its successions H valuation of $12.3 billion.
After selling 75 million Class a shares, Pinterest has a fresh $1.4 billion of money to navigate the trials and tribulations of being a public company.
Pinterest saw a boost in its debut despite concerns that Lyft’s poor performance on the stock mart would cast a shadow on its benefaction. The ride-hailing business priced at the top of its range three weeks ago and saw a 21 percent IPO pop. Since then, it’s fallen below its IPO price and is currently trading at about $58 per share.
We’ll have to sit back and wait to see if Pinterest suffers the same fate.
Zoom, another unicorn IPO that happened to plummet on the same day as Pinterest’s enormous debut, has skyrocketed 81 percent on its first day of trading.
Shares of the video conferencing business began trading at $65 a pop this morning after the company priced its shares at $36 apiece Wednesday, above its anticipated range. The company initially planned to price its shares at between $28 and $32 per share, but following enormous require for a piece of a profitable tech business, Zoom increased expectations, announcing plans to vend shares at between $33 and $35 apiece.
The pop gives Zoom a fully diluted mart cap of roughly $16 billion, or 16 times larger than the $1 billion valuation it garnered with its last circular of independent funding in 2017. Yes, that means Zoom, a company that raised less than $200 million in mission capital, is worth more than Pinterest, a best-loved Silicon Valley victory tale that attracted nearly $1.5 billion in VC funding.