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Zoom raises IPO price range and could now be worth $ 9 billion in debut



Zoom, the provider of videoconferencing software, raised the price of its IPO range on Tuesday, showing that investors have high hopes for fast-growing cloud companies, especially when they can turn a profit.

18% last year to $ 330.5 million, and it has the rare distinction amon g emerging tech companies of being profitable. Zoom will be hitting the market at about the same time as Pinterest this week. It will be the second notable software offering of the year after PagerDuty, which debuted last week and has gained 58 percent from its IPO price to $ 38.

Emergence Capital, Zoom's biggest outside shareholder, will own a stake worth just over $ 1 billion at a $ 35 price, while Sequoia's holdings would be worth slightly less than $ 1 billion.

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