ZoomInfo’s public offering on June 4 won kudos as a bellwether for a stirring comeback in the beaten-down world of IPOs and a sign of the bull market in optimism that has ignited a historic rally in stocks. As usual, the business press measured the event’s success by the bounce in ZoomInfo’s price on the first day of trading, and by those standards, the IPO delivered big-time, bestowing a 62% gain. Business Day noted “the iconic first day pop.” The Wall Street Journal lauded “the strong debut.” Reuters wrote that ZoomInfo “struck a chord with investors,” and GeekWire cited “this blockbuster IPO.” ZoomInfo’s shares variously “soared,” “skyrocketed,” or just plain “rocketed,” depending on the headline of universally positive reviews that underscored the high spirits.
As a business, ZoomInfo won praise for good reason. Its cloud-based platform that generates leads for finding new customers is a big hit with its clients. The offering made billionaires of its visionary founders, Henry Schuck and Kirk Brown, and its $19-plus billion market cap as of June 9 attests to investors’ confidence in its prospects for achieving strong growth and profitability.