Even though Pinterest (PINS) and Zoom (ZM) are completely different companies, where Pinterest is a social media company focused on scrapping, image search and advertisement of brands, and Zoom being a cloud-based video conferencing company, it appears that Zoom IPO overshadowed Pinterest.
Pinterest IPO and Zoom IPO Went Public on the Same Day
The two companies went public on the same day, April 18th, 2019, and even though Zoom got its debut on Nasdaq with Pinterest listing on New York Stock Exchange, Zoom soaring by 70% made its debut perhaps more memorable and attractive to investors.
IPO Tech Unicorn Race: Pinterest Up by 28% and Zoom Spiking by 70% After the First Sale
Although a famous name, and a well-known social media platform popular among women, Pinterest wasn’t the highlight of April 18th as Zoom (ZM) joined the IPO race at the opening price of 36$ in oppose to Pinterest’s opening share price of 19$.
Pinterest closed 28% up its opening price, ending the trading session at 24.40$ per share, while Zoom jumped by 70%, ending the first trading session at the price of 62$ per share.
Pinterest is Preparing a New Advertising Suite
While Pinterest has a recognizable name, Zoom brought something that can’t be seen among tech company IPOs that often – proven profitability.
Pinterest, on the other hand, is yet not profitable, while investors might be worried about the turmoil that goes hand in hand with regulating social media networks.
These are only some of the reasons why Zoom’s performance turned out to be more favorable, having a market valuation 3 billion more than Pinterest that managed to raise 1.4 billion and earn a market value of 15 billion dollars.
In the meanwhile, Pinterest announced that they are working on a new advertising suite, which should bring more users and more businesses to the company, consequently bringing more investors.