Zoom and Salesforce make quick $23 million profit after IPO of Israeli software vendor Monday.com

In Zoom’s IPO two years ago, Salesforce made a bundle by investing $100 million at the offer price and watching the stock soar out of the gate. Zoom learned a little something from that experience.

Zoom and Salesforce each purchased $75 million worth of stock in Israeli software company Monday.com, which debuted on the Nasdaq on Thursday. Monday.com, which provides cloud-based collaboration tools, didn’t have a Zoom-level pop, but the stock did jump 15% — rising from $155 to $178.87 — giving both investors a quick paper profit.

https://www.cnbc.com/2021/06/10/zoom-and-salesforce-make-23-million-after-ipo-of-israels-mondaycom.html