Toast’s Stock Pops In Boston’s Biggest Ever IPO, Minting Cofounders As Billionaires [Forbes]
Oracle Corporation (ORCL)
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Source: Forbes
Toast cofounders Jonathan Grimm (left) and Steve Fredette (right) are now worth $1.7 billion and... [+]$2.2 billion based on the company's opening stock price. A third cofounder, Aman Narang, who is worth $1.6 billion, is not pictured.ASSOCIATED PRESSSixteen months after laying off half its workforce, restaurant software firm Toast completed a whirlwind turnaround Wednesday when it began trading on the New York Stock Exchange at a $20 billion valuation.Shares of the Boston-based company were priced at $40, and opened at $65.26, a dramatic rise from initial forecasts for Toast, which earlier this month said in a regulatory filing that it planned to sell shares between $30 to $33 each. The pop has made its three cofounders—Steve Fredette, Aman Narang and Jonathan Grimm—all billionaires. The IPO is also the largest in Boston history, according to theBoston GlobeGinkgo BioworksKlaviyoSpeaking before the stock began trading, Narang, who serves as chief operating officer, said that the IPO
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ORCL
Earnings
- 3/11/24 - Beat
ORCL
Sec Filings
- 3/27/24 - Form 4
- 3/25/24 - Form 144
- 3/19/24 - Form 4
- ORCL's page on the SEC website