Zoom and IPO both debuted on the public market on Thursday, and Zoom is getting more investor love out of the gate.
When it comes to emerging tech companies, investors are clearly rewarding growth and profitability above all else.
That's a surprising development considering that Zoom is less than half the size of Pinterest, based on the latest full year of sales. Zoom reported revenue of $330.5 million, while Pinterest generated sales of $755.9 million. Pinterest generates revenue by selling ads, while Zoom sells its videoconferencing software to businesses, including 344 that spend over $100,000 a year.
But Zoom is growing faster: Sales grew 118% between the last two fiscal years, while Pinterest grew 60%. "Zoom is that most unusual beast, which is a profitable IPO coming out of the tech sector," said Roger McNamee, co-founder of investment firm Elevation Partners on CNBC on Thursday morning."From a stock market point of view, that's the one I find really compelling."
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