ZoomInfo Technologies, based in Vancouver, Clark County, USA was successful in its initial public offering of stock, raising $934 million from investors.
Trading on the Nasdaq under the symbol ZI, the marketing information firm raised almost twice as much capital as it had expected when it announced in November that it would go public. Thursday’s IPO valued the company at about $8 billion, making it the highest-valued company in Clark County. ZoomInfo offered 44.5 million shares valued at $21, which was above the expected value range when it originally filed. By the market’s closing, the stock value shot up to $34.
“I feel really good about the IPO,” co-founder and CEO Henry Schuck said in a Thursday interview with The Columbian. “I feel even better about the company we built. If we can continue on the foundation we’ve built, we can be a successful foundation stock for our shareholders.”
The company announced its IPO plans in November. In February, it filed with the Securities and Exchange Commission and was looking to raise up to $500 million. It joins a handful of publicly traded companies headquartered in Clark County, including nLIGHT, Barrett Business Services and Nautilus.
ZoomInfo is experiencing fast growth with a reported revenue of $224.7 million last year, up from $106.5 million in 2018.
About 15,000 companies and 200,000 sellers and marketers are clients of ZoomInfo, Shuck said. ZoomInfo’s product helped an event-tent-making company survive during the pandemic and even exceed its revenue records. The Michigan-based tent company, TentCraft, was able to use ZoomInfo’s data to find a new client base of hospitals from around the country to buy its tents.
The strong IPO will help ZoomInfo recruit employees to the Vancouver area, Schuck said, and it could help add to the roughly 600 employees working in downtown Vancouver.
About: For over a decade, ZoomInfo has helped companies achieve their most important objective: profitable growth. Backed by the world’s most comprehensive B2B database, our platform puts sales and marketing professionals in position to identify, connect, and engage with qualified prospects. The company was founded in 2007 under the name DiscoverOrg, offering data on companies to other companies to be used in marketing. In 2019, it acquired Zoom Information and was rebranded as ZoomInfo.