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LegalZoom Shares Leap in First Day of Trading

LegalZoom, an online company that helps customers create legal documents, opened at $36.75, up 31% from its IPO price of $28.
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Shares of LegalZoom  (LZ) - Get LegalZoom.com, Inc. Report, an online legal technology company that helps its customers create legal documents, leaped in its first day of trading from its IPO price of $28.

The stock opened at $36.75, up 31%, and at one point traded at $38.79, up 39%. 

The $28 IPO price bested the estimated offering range of $24 to $27 and made for a $535.4 million deal. 

The recent share price values all of LegalZoom at more than $7 billion.

The company was co-founded in 2001 by Robert Shapiro, who was part of O.J. Simpson’s legal defense team.

LegalZoom has been embroiled in several lawsuits, accusing it of unauthorized practice of law or unfair competition, Reuters reports. The company denies the accusations.

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In other IPO news, Didi Global's  (DIDI) - Get DiDi Global Inc. Report American depositary shares at last check were trading at $14.56 in their first day of trading Wednesday, up from the $14 initial public offering price but down from the opening trade of $16.65.

China’s ride-hailing giant raised $4.4 billion in its IPO, giving the company a valuation of about $67 billion. The pricing came in somewhat below expectations for a valuation as high as $100 billion.

Didi sold 317 million ADSs in the offering, compared with the 288 million originally planned.

TheStreet’s Jim Cramer recently said Didi could offer speculators a good opportunity.

On Monday, the Duolingo language-learning platform filed a prospectus for an initial public offering.

The Pittsburgh company, which offers 95 courses in 38 languages, plans to trade on the Nasdaq with the ticker DUOL. The company, founded in August 2011, employs 400. It has about 40 million monthly active users.