Zoom’s stock price has soared since its initial public offering last April, particularly so in recent weeks as usage of its video-conferencing service has spiked amid the coronavirus pandemic.
Sequoia Capital and Emergence Partners, two of Zoom’s venture backers before it went public, have seen huge returns from their investments and have moved to record much of their gains this month.
So far, Sequoia has seen a return of about $2.3 billion — or more than 22 times the $100 million or so it invested in Zoom; Emergence has seen a return of $1.2 billion, or about 38 times its investment.
Zoom’s performance is in stark contrast with that of other big tech startups that went public recently; Uber and Lyft, for example, have seen their stock prices fall since their IPOs.
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For its early venture backers, Zoom is the gift that just keeps on giving.
Sequoia Capital and Emergence Partners, among others, have seen huge windfalls off the investments they made in the video-communications software provider. And their returns have only gotten bigger in recent weeks as the company’s shares have soared amid rising usage thanks to the coronavirus pandemic — and as Sequoia and …read more
Source:: Businessinsider – Politics