$1 billion video-conferencing firm Zoom is aiming for an April IPO

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zoom eric yuan

  • The video-conferencing firm Zoom is aiming to file a public S-1 kind by the top of March, in accordance with an individual acquainted with the method. The corporate might go public as quickly as April.
  • Zoom, which was valued at $1 billion in a 2017 funding spherical, filed confidentially with the Securities and Change Fee in the course of the federal authorities shutdown, which a minimum of briefly delayed its timing, in accordance with one other supply.
  • Zoom is working with Morgan Stanley, JPMorgan, Goldman Sachs, and Credit score Suisse on its IPO, in accordance with one of many sources.

Zoom, the video-conferencing software program firm most just lately valued at $1 billion, is on monitor to go public in April, in accordance with a supply acquainted with the matter.

The corporate, which is backed by Sequoia Capital and Qualcomm, has began talking with potential buyers, or “testing the waters,” the supply stated. Zoom might file its public registration assertion as quickly as subsequent month.

Zoom’s annual income isn’t public, although one other supply instructed Enterprise Insider the corporate was cash-flow constructive.

A Zoom consultant declined to remark.

Zoom is engaged on its preliminary public providing with Morgan Stanley, JPMorgan, Goldman Sachs, and Credit score Suisse, Enterprise Insider beforehand reported.

The corporate filed confidentially with the Securities and Change Fee in the course of the federal authorities shutdown, going through delays via the start of February because it waited for the SEC to formally settle for its confidential submitting.

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Zoom was based in 2011 by CEO Eric S. Yuan, who was beforehand vp of engineering on the video-conferencing firm WebEx. Yuan joined Cisco in 2007 when it purchased WebEx for $three.2 billion.

Zoom, which sells subscriptions for enterprise-grade video-conference providers, is utilized by firms together with Uber and Field.

SEE ALSO: $1 billion video conferencing startup Zoom has picked banks however is sitting in SEC purgatory forward of a deliberate IPO

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