The stock has become a barometer of the pandemic economy as the Covid-19 lockdowns emerge and now falling on good news about vaccines. The revenue growth in 2021 may be slightly less inconsistent than it was last year. Zoom Video Communications Inc. is pursuing to raise $1.5 billion through a stock offering, capitalizing on rising demand for the video-conferencing platform during a pandemic.
Zoom said in a statement Tuesday that “ It expects to give its underwriter a 30-day option to buy as much as an additional $225 million of Class A stock at the public offering price, excluding underwriting discounts and fees. JPMorgan Chase & Co. is the sole book-runner for the sale.”
The new shares will be going to start in trading on Jan. 13, where the people familiar with the matter and asking not to be specified because they aren’t approved to speak publicly. The stock was up 1.6% to $342.99 as the market opened in New York Tuesday.
Zoom has earned 362% in the past 12 months, evaluating the demand it has seen as people work, learn, and socialize on their computers.
Chief Executive Officer Eric Yuan has tried to modify Zoom’s capabilities for large enterprises, small- and mid-sized businesses, and individuals so the company can evolve after the coronavirus is controlled and more workers return to their offices.