Toast Inc fetched a valuation of nearly $33 billion in its New York Stock Exchange debut on Wednesday, as shares of the restaurant software provider jumped 63 percent, underscoring a deep investor appetite for fast-growing software firms.
The stock opened at $65.26, compared with its initial public offering price of $40 per share. The valuation marked a substantial jump from the company’s last private funding round when it was valued at $4.9 billion in February 2020.
