The company’s business model relies on those founders coming back for more business services as their companies grow - instead of hiring lawyers to perform those services. in 2020, 10% of new limited liability companies and 5% of new corporations were formed using LegalZoom services, according to the company’s filings in preparation for its IPO. LegalZoom counts 1 million small businesses as customers for its subscription services, along with millions of users who come to the site for help with estate planning, divorce documents and intellectual property filings, among other legal services.īut the company’s stated mission, “to democratize law,” has often put it in conflict with lawyers groups across the country since its founding, and its future success depends in part on disrupting the staid legal profession. Pacific - well above the asking price of $28, rocketing the valuation to more than $7 billion in its first moments as a public company - and ended the day just slightly lower at $37.85. (Note: LegalZoom priced its IPO on June 29, 2021, at 28 above its 24-to-27 price range on 19.12 million shares, the same number of shares in the. The stock rose to a price of more than $38 a share just after its debut at 9 a.m. Now, the Glendale, California-based LegalZoom is seeking to raise 100. LegalZoom became a publicly traded company Wednesday on the Nasdaq stock exchange, as investors snatched up shares of the Glendale firm founded in 1999 to upend the legal world. The online legal services company first filed for an initial public offering nearly a decade ago, but pulled the offering.
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