3 ms·
> It's amazing how tiny companies used to be, or how much things have grown, even when adjusted for inflation. Nowadays, that is like a seed round for a big dat
by anonymouskimmer 4y ago
> It's amazing how tiny companies used to be, or how much things have grown, even when adjusted for inflation. Nowadays, that is like a seed round for a big data or cloud company.
The was the total price of the shares sold in the IPO, not the valuation of the company.
From the WSJ link in the article:
> Last December, ZZZZ Best had a public offering of one million units consisting of three shares of common stock and one warrant each.
> On Monday alone, nearly 5.3 million of the company's 11.5 million outstanding shares changed hands.
This would be 3 million shares and 1 million warrants sold for ~$13 million, versus a total 11.5 million shares at the time of bankruptcy. So the ~$13 million IPO was, at best, a little over 1/3rd the market cap of the company at the time of the IPO. This market cap increased to $211 million at its peak some months later. Not bad for a regional services firm.