Video Conferencing Firm Zoom Targets April IPO After Confidential SEC Filing
Zoom plans to file its public S-1 by late March and potentially debut on the stock market as soon as April. The highly valued company looks to build on its rapid growth and top-rated CEO reputation.
Zoom aims to file its public S-1 by the end of March and potentially completes its initial public offering as soon as April. The San Jose-based company confidentially submits its paperwork to the SEC months after selecting Morgan Stanley to lead the highly anticipated offering.
Investors expect the startup to command a multibillion-dollar valuation at its IPO, a significant increase from its $1 billion valuation during its 2017 funding round. The company raises $145 million altogether from prominent backers like Sequoia Capital, Emergence Capital, and Horizons Ventures.
CEO Eric Yuan, a former early WebEx employee, brings 45 of his former colleagues with him to build the popular video conferencing platform. Yuan earns widespread praise for his leadership, ranking at the top of Glassdoor's annual list of best-rated CEOs last year.