ZipRecruiter began trading on the NYSE Wednesday with an IPO that valued the company at about $2.4 billion, below earlier expectations of $3 billion, Investor’s Business Daily reports. The IPO came in the form of a direct listing, under the ticker ZIP.
The recommended reference price of shares came in at $18, for the online jobs marketplace. ZIP stock popped 17.2 percent, closing at 21.10.
Previously, the fair value per share was recommended at $25, as of April 19. Existing shareholders were offering about 86.6 million shares.
ZipRecruiter’s debut was the second major direct listing this year, following the Coinbase launch earlier this month. Read more.
