The ZipRecruiter initial public offering (IPO) is set to take place today and it will have the company’s shares making their way to the public market.
Here’s everything investors need to know about the ZipRecruiter IPO plans.
- First off, ZipRecruiter isn’t going about its IPO in the same way as most other companies do.
- Instead of a normal IPO, the company is going public through a direct listing.
- This will have the company listing shares of its stock on the New York Stock Exchange under the ZIP ticker.
- The company also received a reference price of $18 per share for its stock from the NYSE.
- This values the company at $2.4 billion based on its 133.1 million outstanding shares.
- That’s below the $3 billion to $5 billion valuation range that ZipRecruiter was initially aiming for.
- That valuation came from its expectation to list shares publicly for $25.04 each.
- The ZipRecruiter IPO will see it list Class A shares of its common stock on the market.
- There are currently 73.8 million Class A shares of ZIP stock.
- The company also has 30.8 million shares of Class B common stock outstanding.
- Shares of the Class B stock are convertible to shares of Class A stock at any time.
- The Class B shares are not being listed on the NYSE alongside Class A shares.
- ZipRecruiter is a job search engine for connecting employees to employers.
- It allows companies to list jobs on its platform and people searching for work can find work there.
- The search engine allows listings for small and medium businesses, as well as those from large corporations.
- Its job search app is currently the top-rated in its category on both iOS and Android devices.
- The service was also rated as the #1 hiring site in the U.S. based on G2 satisfaction ratings from March.
Investors that looking for more recent IPO news can keep scrolling.
We’re keeping tabs on IPOs and other efforts to take companies public at InvestorPlace. That includes recent news about Oatly (NASDAQ:OTLY), Squarespace (NYSE:SQSP), and Jiuzi Holdings (NASDAQ:JZXN). You can learn more about these companies at the links below.
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- JZXN Stock: 15 Things to Know About New Energy Vehicle Retailer Jiuzi Following the IPO
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.