ZipRecruiter works in debut

ZipRecruiter

26/05/2021 18:45

(Updates)
    ** Online jobs marketplace ZipRecruiter  ZIP.N  opens at $20
vs reference price of $18, as direct listings continue to gain
traction
    ** ZIP shares rise to as high as $21.69 early on, valuing co
at nearly $3 bln
    ** ZIP was valued at $1.5 bln in 2018 funding round with
investment from Wellington Management and venture capital firm
IVP  urn:newsml:reuters.com:*:nL3N2ND3VI
    ** Last week, ZIP forecast 2021 rev of $580-$600 mln
(implying 39%-44% yr/yr growth) and adj EBITDA of $20-$28 mln
(See Shareholder Letter https://www.sec.gov/Archives/edgar/data/1617553/000162828021010550/exhibit992-8xkshareholderl.htm)
    ** Goldman Sachs and JP Morgan acting as ZIP's lead
financial advisers, along with Barclays, Evercore, William
Blair, and Raymond James
    ** ZIP joins website building and hosting firm Squarespace
 SQSP.N , which debuted last week, as well as gaming co Roblox
Corp  RBLX.N  and crypto-exchange operator Coinbase Global
 COIN.O , opting for direct listings rather than traditional IPO
route to public markets
    ** Also on Weds, fintechs Flywire  FLYW.O  and Paymentus
Holdings Inc  PAY.N  soar in their debuts, potentially helping
rejuvenate the IPO market  urn:newsml:reuters.com:*:nL2N2ND207

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))