Profitable Zoom Video Tops $9 Billion Valuation After IPO

Profitable video-conferencing provider Zoom Video will be valued at more than $9 billion in its public market debut, according to Bloomberg. It is more than nine times the amount it fetched in a private funding round just two years ago.

Zoom raised $751 million in an initial public offering Wednesday, selling 20.9 million shares for $36 each, according to data compiled by Bloomberg. The listing is set to be fourth biggest in the U.S. so far this year, after Lyft Inc.’s $2.34 billion IPO and Tradeweb Markets’ $1.24 billion offer in March. Digital scrapbook company Pinterest is seeking to raise as much as $1.27 billion in its IPO.

Uber Technologies Inc., whose IPO is expected to take place in May, is likely to be the largest in the U.S. this year. Uber is seeking to raise about $10 billion in an offering valuing it at about $100 billion, people familiar with its plans have said.

Zoom is one of the few tech unicorns set to go public this year that has made a profit. It reported net income of $7.6 million for the year ended January on revenue of $331 million, compared with a loss of $3.8 million a year earlier on revenue of $151 million.