Shares of both Pinterest Inc and Zoom Video Communications Inc surged in their stock market debut on Thursday.
Pinterest saw its value to reach around $16 billion, while Zoom's shares also surged closing 72 percent above their IPO price of $36.
Investors are hopeful that money-losing Pinterest, the most high-profile social media company to list in the United States since Snap Inc in 2017, will have a strong run in the market, given the company’s ability to grow revenue and increase its user base.
Pinterest allows users to search for topics like home improvement projects and travel tips, with results often showing handy infographics. It also lets users create themed social “boards.”
The company brings in revenue through advertisements, which are placed among the “pins” or posts that users upload on the site.