ZoomInfo Targets IPO Price $ 1 Above Revised Price Range

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ZoomInfo aims to fix the price of its initial public offering $ 1 before its already sustained price range, two sources close to the matter told CNBC.

The company had already raised its IPO price range Tuesday morning, but could now target as much as $ 21 a share and raise nearly a billion dollars. ZoomInfo, which will trade under the symbol “ZI”, said Tuesday in a government file that it had raised its IPO price range between $ 19 and $ 20 per share amid strong demand, against an initial estimate between $ 16 and $ 18.

The final decision on how to set the price for its IPO has not yet been made.

ZoomInfo should not be confused with the videoconferencing service that was widely used during the Covid-19 pandemic, Zoom Video Communications. The company, which will soon be open to the public, is back by TA Associates, The Carlyle Group and 22C Capital.

ZoomInfo, chaired by CEO and founder Henry Schuck, uses artificial intelligence to process the data that helps business sales and marketing teams reach their customers.

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