Airbnb plans to raise $2.5 billion with an initial public offering that will price shares in the range of $44 to $50, according to an updated filing on Tuesday. The Airbnb IPO could occur in mid-December…
The company plans to offer 51.9 million shares and could receive a market valuation on a fully diluted basis of up to $35 billion, according to the Airbnb IPO filing with the Securities and Exchange Commission.
Airbnb was previously valued at $18 billion earlier this year after raising $2 billion in debt to manage through the early months of the pandemic.
In addition to the Airbnb IPO, DoorDash is also expected to hold its IPO this month. The company updated its IPO filing Monday.
DoorDash, the leading food delivery app provider, plans to raise about $2.8 billion, offering 33 million shares at a range of $75 to $85 each. That gives it a valuation of up to $32 billion on a fully diluted basis. It will list on the New York Stock Exchange under the ticker DASH.
Airbnb IPO Joins Other Big Names
The Airbnb IPO will list on the Nasdaq under the ticker ABNB.
The popular online marketplace for vacation rentals will join other big IPO names premiering in 2020, including Palantir Technologies (PLTR), Snowflake (SNOW), Unity Software (U) and Asana (ASAN) in what has been a remarkably productive year for new issues, considering the circumstances.
Airbnb competes with other online travel platforms such as Booking Holdings (BKNG), Expedia (EXPE) and Trip.com (TCOM). It also faces competition from search engine sites such as Google-owner Alphabet (GOOGL), TripAdvisor (TRIP) and Trivago (TRVG).
Coronavirus Cuts Into Airbnb Growth
During the nine months ended Sept. 30, the gross bookings value at Airbnb plunged 39% to…
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