May 13, 9:54 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Luis Sanchez 05/13/19 AT 9:51 PM Zoom Video (NASDAQ:ZM) has seen its share price double from its April 2019 IPO price. By all accounts, Zoom Video has a best-in-class video conferencing product, and it has been able to produce strong growth figures with surprising profitability. However, at its current market cap of nearly $19 billion, the stock trades for more than 50 times its last 12 months' sales. Is this the case of an overhyped IPO, or does the company's trajectory warrant its stock price?Best-in-class video conferencing softwareZoom Video is built around its video conferencing software. From there, the company provides a suite of communication tools to help organize meetings or communicate through voice and text. The video conferencing product is extremely easy to use and integrates with all of the standard software used in the … [Read more...] about Is Zoom Video Worth The Hype?
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Apr 17, 9:25 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Danny Vena 04/17/19 AT 9:21 PM This has been a year of new opportunities for investors, thanks to a raft of technology companies making (and about to make) their public market debuts. Yet for all the ink that's been spilled on the likes of Lyft, Uber, and Pinterest, one impressive young company has been largely flying under the radar in advance of its initial public offering (IPO) -- video conferencing specialist Zoom Video Communications (NASDAQ:ZM).While the company is a "unicorn" -- a private start-up valued at $1 billion or more -- it isn't nearly as high-profile as some other businesses that have gone public this year. And Zoom -- scheduled to begin trading on the Nasdaq exchange Thursday under the ticker ZM -- has an advantage that many of its brethren lack. Not only is it growing quickly, it's already … [Read more...] about Zoom Video Raises Range On IPO Ahead Of Thursday Launch
Apr 02, 1:53 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Arthur Villasanta 04/01/19 AT 11:03 PM The second trading day for Lyft at Wall Street wasn’t filled with pleasant memories. Shares of the ridehailing firm that debuted at the exchange only on Friday plungers 12 percent to $69.01 on Monday.The unexpected tumble surrendered all of the gains from last week’s heady debut, closing $2.99 below the IPO price of $72. Analysts said the stock’s performance Monday, which went against expectations, seems to show some investors remain skeptical of Lyft’s lofty $20 billion valuation and have pulled back.Traders said more than 41.6 million Lyft shares changed hands Monday compared to the 71.5 million shares traded on March 29. They said Lyft only sold 32.5 million shares in the offering, so the market is seeing more traders than long-term buyers.“They’re shaking out the speculators and … [Read more...] about Lyft Stock Plunges 12% On Second Day Of Trading
Jan 28, 11:53 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Daniel Sparks 01/28/19 AT 10:17 PM Online storage and collaboration company Dropbox (NASDAQ:DBX) announced what appears to be its biggest-ever acquisition ever on Monday. The company has agreed to buy e-signature and document workflow platform HelloSign.The acquisition highlights Dropbox's aggressive push into commercial and enterprise customers as the company aims to provide more value and beef up its software-as-a-service business model. In addition, an acquisition of HelloSign better positions Dropbox to compete with fast-growing e-signature leader DocuSign (NASDAQ:DOCU).Acquiring HelloSignOn Monday, Dropbox said it's acquiring HelloSign for $230 million. The e-signature, workflow, and online fax company, which exists to help businesses automate important transactions, has an impressive 80,000 customers."HelloSign has built … [Read more...] about Dropbox Drops $230 Million On HelloSign
The Trump White House has reportedly drafted an executive order aimed at determining if online platforms including Google and Facebook have violated antitrust laws. According to Business Insider, which obtained a copy of the proposal, the text states, in part, “it is essential that American citizens are protected from anticompetitive acts by dominant online platforms.” The document also says federal agencies should use their authorities “to promote competition and ensure that no online platform exercises market power in a way that harms consumers, including through the exercise of bias.”As such, agencies are ordered within 30 days to submit one action each can “potentially take to protect competition among online platforms and address online platform bias.” 50 PHOTOS Mark Zuckerberg through the years See Gallery Mark Zuckerberg through the years Mark Zuckerberg creater of 'Facebook', photographed at Eliot House at … [Read more...] about Report: White House has drafted executive order to probe ‘online platform bias’ at Google, Facebook