Zoom is floating above its range in an IPO in which Qualcomm will make an immediate $30.6m return, while Salesforce is buying $100m of shares through a private placement.
US-based video conferencing technology provider Zoom Video Communications will go public today in a $751m initial public offering in which mobile chipmaker Qualcomm is selling $30.6m of shares.
The offering consists of approximately 9.9 million shares being issued by Zoom on the Nasdaq Global Select Market and almost 11 million shares being sold by its shareholders. It is floating at $36.00 per share, above the IPO’s $33 to $35 range, reportedly valuing the company at about $9bn.
Salesforce Ventures, the…
