Zoom, a relatively under-the-radar tech unicorn, has defied expectations with its initial public offering. The video conferencing business priced its IPO above its planned range on Wednesday, confirming plans to sell shares of its Nasdaq stock, titled “ZM,” at $ 36 apiece, CNBC reports.

The company initially planned to price its shares at between $ 28 and $ 32 per share, but following big demand for a piece of a profitable tech business, Zoom increased expectations, announcing plans to sell shares at between $ 33 and $ 35 apiece.

The offering gives Zoom an initial market cap of roughly $ 9 billion, or nine times that of its most recent private market valuation.

Zoom plans to sell 9,911,434 shares of Class A common stock in the listing, to bring in about $ 350 million in new capital.

If you haven’t had the chance to dive into Zoom’s IPO prospectus, here’s a quick run-down of its financials:

• Zoom raised a total of $ 145 million from venture capitalists before filing to go public
• It posted $ 330 million in revenue in the year ending January 31, 2019 with a gross profit of $ 269.5 million
• It more than doubled revenues from 2017 to 2018, ending 2017 with $ 60.8 million in revenue and 2018 with $ 151.5 million
• Its losses have shrunk from $ 14 million in 2017, $ 8.2 million in 2018 and just $ 7.5 million in the year ending January 2019

Zoom is backed by Emergence Capital, which owns a 12.2 percent pre-IPO stake; Sequoia Capital (11.1 percent); Digital Mobile Venture, a fund affiliated with former Zoom board member Samuel Chen (8.5 percent); and Bucantini Enterprises Limited (5.9 percent), a fund owned by Chinese billionaire Li Ka-shing.

Zoom will debut on the Nasdaq the same day Pinterest will go public on the NYSE. Pinterest, for its part, has reportedly priced its shares above its planned range.

TechCrunch