ZoomVideo conferencing company Zoom could be valued as high as $8.25 billion following its upcoming initial public offering, giving it a major lift from its last private valuation of just $1 billion.
Zoom set its IPO price range at $28 to $32 per share in an updated filing on Monday. At the midpoint of that range, Zoom would be worth $7.7 billion. The company is expected to start trading next week on the Nasdaq under the ticker symbol "ZM."
In addition to the price range, Zoom disclosed a $100 million private placement from Salesforce at the IPO price.Zoom's pricing for its IPO - which is led by Morgan Stanley, JPMorgan, Goldman Sachs and Credit Suisse - comes on the end of a rough week for Lyft, the first unicorn IPO of the year, which set the tone for bankers and traders alike.
Things seemed swell when Lyft went public on March 29 far above its initial price range, but the company spent the following week trading below its opening price on the public markets. The ride-hailing company initially priced between $62 and $68, before raising its range and going public at $72 per share. On Monday morning, Lyft traded around $71.80 per share.
Pinterest, another member of the unicorn IPO cohort, also priced its IPO on Monday at a valuation below its last private funding round. The company priced its IPO at $15 and $17 a share, giving it a valuation of $11.3 billion at the upper end of the range. It was most recently valued at $12.3 billion 2017.