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Pinterest, Zoom to price IPO — What to know in markets Wednesday

·Reporter
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Two highly-anticipated tech companies are expected to price their public offerings Wednesday evening, Pinterest and Zoom.

Online pinboard company Pinterest lowered its pricing range to between $15 to $17 per share last week as it kicked off its roadshow. That pricing range values the company at around $11 billion at the high end of the range, below its private valuation of $12 billion in 2017. Pinterest will be listing on the New York Stock Exchange under the ticker “PINS.”

Moreover, videoconferencing company Zoom boosted its IPO price range Tuesday as the tech company prepares to list on the Nasdaq Thursday morning. According to a filing, Zoom plans to list its shares anywhere between $33 and $35 per share, and the stock will trade under the ticker “ZM.” At the high end of that range, Zoom would be valued at about $9 billion. Unlike other unicorns looking to hit the public market, Zoom is a profitable company. The company posted gross profits of nearly $270 million in 2018.

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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