Zoom prices IPO at $36 per share: source
Videoconferencing company Zoom priced its IPO at $36 a share, above of its already increased range and valuing the business at $9.2 billion.
Founded in 2011 by former Webex head engineer Eric Yuan, Zoom has surged in popularity in a crowded market by providing software that works easily across devices and by groups ranging from small teams to large enterprises. Sales jumped 118 percent last year to $330.5 million, and the company reported net income of $7.58 million.
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