Two highly-anticipated tech companies will make their public market debut Thursday, Pinterest and Zoom.
Online pinboard and scrapbooking company Pinterest will list on the New York Stock Exchange under the ticker “PINS,” and video-conferencing software company Zoom will list on the Nasdaq and trade under the ticker “ZM.”
Both companies are diving into the hot IPO market and priced their shares Wednesday evening.
Pinterest lowered its pricing range last week and said that it expected to price its offering between $15 to $17 shares, which would value the company around $11 billion at the top end of the range. On the other hand, Zoom raised its offering price range Tuesday and was expecting to price anywhere between $33 and $35 per share, giving the company a valuation of nearly $9 at the top end of the range.
Much like their tech peers, Pinterest and Zoom will offer dual-class shares, but the two Silicon Valley darlings have one fundamental difference as they get ready to IPO. Pinterest is yet to turn a profit, but investors remain optimistic as the losses have narrowed recently. Meanwhile, Zoom is actually now a profitable company. Zoom posted gross profits of nearly $270 million last year, and revenue has more than doubled from 2017 to 2018.
Given Lyft’s (LYFT) IPO stumble, investors will be paying even closer attention to how Pinterest and Zoom performance post-IPO.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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