ZipRecruiter CEO Ian Siegel rang the NYSE’s Opening Bell on Wednesday, the company’s first day of trading.
Cole Burston/Bloomberg
ZipRecruiter led a trio of deals to the public markets Wednesday.
ZipRecruiter was joined by Flywire and Paymentus Holdings. Both Flywire and Paymentus went public through traditional IPOs, while ZipRecruiter used a direct listing.
Shares of ZipRecruiters (ticker: ZIP) opened at $19.80 and hit a high of $21.69. The stock recently changed hands at $21.50, up 19.44% from its $18 reference price. At $21.50 a share, ZipRecruiter has a $2.86 billion valuation.
The online employment marketplace didn’t sell shares with its direct listing and won’t receive proceeds from the transaction. Instead, ZipRecruiter shareholders are offering up to 86,598,896 shares of class A common stock for resale, according to a prospectus.
Flywire (FLYW) was the first to open. Shares kicked off at $34, peaked at $34.77 and recently changed hands at $33.42, up 39.25% from its offer price.
The strong performance came after Flywire collected nearly $251 million late Tuesday. The company boosted the size of its deal to 10.44 million shares at $24 each. This is up from the 8.7 million shares at $22 to $24 the company had planned to sell.
Goldman Sachs, J.P. Morgan, Citigroup, and BofA Securities are underwriters on the deal.
Flywire provides payments for healthcare, travel, and business-to-business, as well as education. It has over 2,250 customers, including more than 1,900 educational institutions and over 80 healthcare systems. The company enabled about $2.9 billion of total payment volume for the quarter ended March 31.
Paymentus Holdings (PAY) opened with shares at $28.76. The stock hit a high of $30.46 and recently changed hands at $28.50, up 35.71% from its offer price.
The payments company raised $210 million after selling 10 million shares at $21 each, the top of its $19-to-$21 price range. Goldman Sachs, J.P. Morgan, BofA Securities, and Citigroup are underwriters on the deal.
Founded in 2004, Paymentus provides cloud-based bill payments for more than 1,300 clients, who use the technology to bill their customers. In December 2020, Paymentus’ platform was used by about 16 million consumers and businesses in North America to pay their bills and engage with their billers.
Write to Luisa Beltran at [email protected]
