ZoomInfo, the business contact and intelligence platform, recently went public, providing more than 400 million pending shares and becoming one of the fastest-growing stocks in the IPO market.
ZoomInfo entered the market with its initial public offering of 44.5 million class A shares, priced at $21 each. According to Forbes, the 36% decrease in IPO activity has not hindered ZoomInfo’s stock growth, as the demand for the company’s services has made it more essential to maintaining B2B interactions.
As a result, the demand for their shares rapidly increased within a week of ZoomInfo going public. Based on the strong response to the initial IPO, ZoomInfo increased the number of shares to 400 million, and the share price at $40. Within a week after the initial filing, their stock is currently worth $16 billion, making ZoomInfo the fastest-growing public stock in a withering IPO market.
“Today, we cover more than 14 million businesses and 120 million business professionals,” said Henry Shuck, CEO of ZoomInfo, in an interview with NBC news. “And that data is constantly changing. Companies are constantly growing, they’re shrinking, they’re hiring new employees, adding new technologies and removing old technologies. And that machine learning engine that we’ve built — that artificial intelligence — is keeping track of all of those changes across billions of data points in real-time and scale. That’s how we’re able to bring those insights to our 15,000+ customers.”
