Doximity surges 69% in NYSE debut after IPO values health-tech company at $4.6 billion
Doximity, the company that describes itself as the LinkedIn for doctors, jumped 69% in its stock market debut on Thursday after raising close to $500 million in its IPO.
Doximity sold 19 million shares for $26 a piece Wednesday night, above its projected range of $20 to $23, and an existing investor sold another 4.3 million. The offering valued the company at $4.6 billion. The stock, trading under ticker symbol “DOCS,” climbed to $44.13 shortly after opening.
Founded in 2010, Doximity has grown rapidly in recent years by becoming the primary app that doctors use to stay connected with one another, sharing the latest research and updates on new drugs. With 1.8 million medical professionals in the U.S. on the site, including more than 80% of physicians, Doximity has bolstered revenue by allowing pharmaceutical companies to promote drugs and treatments and by giving medical recruiters a central place to find prospects.
[https://www.cnbc.com/2021/06/24/doximity-surges-69percent-in-debut-after-ipo-values-company-at-4point6-billion.html](https://www.cnbc.com/2021/06/24/doximity-surges-69percent-in-debut-after-ipo-values-company-at-4point6-billion.html)
https://www.reddit.com/r/StockMarket/comments/o786ya/doximity_surges_69_in_nyse_debut_after_ipo_values/
