ZoomInfo’s three-day stock surge has turned founders Henry Schuck and Kirk Brown into billionaires.
According to Bloomberg, the business-intelligence company’s stock price doubled in its June 4 trading debut.
It spiked as high as $42 before closing at $34.
Friday saw the rally continue before shares closed even higher, at $44.69, on Monday.
The Nasdaq-hosted initial public offering raised more than $900 million for the company.
this signalled a strong bounce-back for the IPO market after issuances paused in the early days of the coronavirus pandemic.
The post-offering upturn created a major windfall for the two founders.
Schuck holds a 10% stake in ZoomInfo, while Brown owns 7.3% of the firm, according to a prospectus.–Business Insider