Pinterest, Inc. led by Chairman, Co-Founder, President and CEO Ben Silbermann and Co-Founder, Chief Design and Creative Officer, Evan Sharp ring the opening bell celebrating the IPO of Pinterest Inc. at the New York Stock Exchange (NYSE) in New York on April 18, 2019.
Brendan McDermid—Reuters
By Alan Murray and Jeff John Roberts
April 19, 2019

Good morning.

This is a Mueller-free zone today. Barr is barred. You’ll have to get your Trump fix elsewhere. Or, if you have nothing better to do on Good Friday, you can read the special prosecutor’s report directly, here.

But we will take a minute to highlight the two IPOs that launched yesterday – Pinterest and Zoom. Both were viewed as successful – Pinterest jumped more than 25% from its listing price, while Zoom zoomed 81%. Fortune’s Shawn Tully will tell you those numbers should be seen as signs of failure – meaning the investment bankers underpriced both stocks, and left money on the table. But whatever. The “window” for IPOs appears to be wide open – and that’s good news for Slack, Postmates, Palantir, Airbnb and others who intend to cash in this year.

By the way, we talk a lot about the speed of change in CEO Daily. But it’s worth remembering that video conferencing, which is what propelled Zoom to a $16 billion valuation yesterday, was first displayed to the public more than half a century ago, at the 1964 New York World’s Fair. Remarkable it took this long for it to achieve its moment of hockey stick growth.

More news below. And if you want to learn how to raise your daughters to be CEOs, read Michal Lev-Ram’s fascinating interview with Esther Wojcicki here.

Alan Murray


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