Within a week of its announcement, ZoomInfo has become the most celebrated tech IPO of 2020. ZoomInfo, the leading market intelligence platform for marketing and sales teams, powered by DiscoverOrg, is currently trading at $52.90 per share at the time of writing this story.
A rocketship in B2B marketing and sales intelligence, ZoomInfo has grown remarkably in the last 2 years. Despite the uncertainties in the business, the company decided to pitch for an IPO in May-end and finally took the leap on 4 June.
On 4 June, ZoomInfo Technologies announced the pricing of its IPO of 44,500,000 shares at $21 per share. Just over a week, stocks are trading more than double, even as it started trading on the Nasdaq Global Select Market on June 4, 2020 under the symbol “ZI.”
The IPO showcases the strong AI current sweeping away the fears and laziness that may have crept amid the pandemic.
In an interview with the CEO and Founder of DiscoverOrg, Henry Schuck told me about the background story of his recent acquisitions – NeverBounce and ZoomInfo.
Currently valued at $23 billion, ZoomInfo share prices almost doubled the moment they went public. From 1 June, we were witnessing that the businesses are getting preparing for their usual routine, despite the COVID-19 slowdowns reflecting in the Q2 2020 reports. Within an hour of trading, ZoomInfo was trading at over $40 per share– almost duplicating the successful IPO story of Warner Music Group (WMG), which also went public this month.
Last year, in February, MarTech Series covered the announcement of DiscoverOrg’s acquisition of ZoomInfo Technologies. In September, the two companies had completely merged and rebranded as ZoomInfo Powered by DscoverOrg.
After 20 years of shaping the way B2B companies sell and market their services, the new ZoomInfo combines the best of both ZoomInfo and DiscoverOrg technology and data to create a market leader that sales and marketing professionals can count on to empower their go-to-market strategies.
We wish ZoomInfo team a great IPO inning– an inspiring tale is here to unfold.