ZoomInfo stock closed at $34 on its first day of trading, nearly 62 percent above its IPO price.
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ZoomInfo priced its shares at $21 after previously setting a price range of between $16 and $18 and then raising it to between $19 and $20. Its stock opened at $40 on Thursday.
The company confidentially filed for an IPO back in December.
Before it started trading on the public markets Thursday, ZoomInfo raised $934.5 million by selling 44.5 million shares.
The company, which is based in Vancouver, Washington, was previously known as DiscoverOrg. In February 2019, DiscoverOrg bought Massachusetts-based Zoom Information, and later announced that it was changing its name to ZoomInfo.
The company is best known for a large database of business information. It sells a subscription for access to the dataset to recruiters, marketing and sales personnel.
Thursday’s public debut is interesting, considering how slow the IPO market has been for technology companies since the COVID-19 pandemic broke out in the United States. That coupled with its stock price surging at open on its first day of trading makes ZoomInfo stand out.
Illustration: Li-Anne Dias
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