Initial public offerings (IPO)

Zoom shares soar, and so do Zoom shares

Illustration: Rebecca Zisser/Axios

Zoom Video shares popped over 70% on Thursday morning, following an IPO that initially valued the Silicon Valley videoconferencing company at more than $9 billion. But not everyone who thinks they bought Zoom Video shares actually did so.

There are actually two Zooms. The aforementioned Zoom Video, which trades under ticker symbol ZM, and Zoom Technologies, a tiny Chinese wireless company that has the ZOOM ticker symbol.

  • Zoom Technologies shares are up over 62% in early Thursday trades, with more than four times its normal trading volume. Either people are confused, or they're cynically betting that others will be.

Pinterest raises $1.4 billion in better-than-expected IPO

Illustration: Aïda Amer/Axios

Pinterest has raised over $1.4 billion in its IPO, pricing shares above the top of its expected range.

The bottom line: It's a strong showing for an unprofitable unicorn on the heels of Lyft, but still values Pinterest shares a bit below where they were last sold to venture capitalists.