ZipRecruiter Up In Public Debut Via Direct Listing On NYSE

Los Angeles-based recruiting software developer ZipRecruiter rose in its first day as a public company, up as much as 8.5% in its first day on the markets. The company is now trading on the NYSE as ZIP. Unlike an initial public offering (IPO), ZipRecruiter did not go through investment banks to enter the public markets, a somewhat unusual move, although not unheard of--Slack and Spotify are examples of a couple of other companies who have taken that route to the markets. Bloomberg says the trading price on the NYSE, which was around $20.00 at close of the market yesterday, values ZipRecruiter at around $2.8 billion. ZipRecruiter is a developer of job matching software, helping to match job seekers and companies looking for employees.