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Airbnb IPO Date And Price: Airbnb Sold Shares At $68

Airbnb IPO Date And Price: As lockdowns eased and with more travellers choosing to book homes instead of hotels, Airbnb’s revenue recovered from a summer slump to reach $1.34 billion in the third quarter.

Airbnb Inc on Wednesday said it sold shares in its IPO at $68 per share, above its targeted price range, to raise around $3.5 billion.
The IPO gives Airbnb a “fully diluted valuation”, which includes securities such as options and restricted stock units, of $47.3 billion, capping a turnaround in fortunes for the US home rental company that was hit hard by travel restrictions because of the COVID-19 pandemic.

Airbnb IPO Date And Price in 2020

Airbnb is planning its market debut in this week, with its shares scheduled to begin trading 10th December. Last week, the company said it plans to sell 50 million new shares at an offer price of $44 to $50 a share.

But People familiar with the matter said Sunday that the company plans to boost the proposed price range to $56 to $60 a share. On Wednesday, the Journal reported that Airbnb is expected to price its shares above that already increased targeted price range. It is leaning toward setting a price for its shares of $67 or $68 a piece.

Airbnb had planned to sell approx 51 million shares at $56 to $60 per share, after raising this range from an earlier target of $44 to $50 per share.

Airbnb’s IPO is one of the biggest by a US operating company in 2020 in what has been an active year for US listings, with the likes of tech companies DoorDash Inc and Snowflake Inc going public shares.

The share offering also marks a dramatic comeback for Airbnb after it suffered a sudden drop in bookings and an increase in cancellations as the coronavirus spread across the world 9 months ago, forcing governments to foist travel bans and mandate social distancing guidelines.

In April 2020, Airbnb raised $1 billion from private equity firms Silver Lake and Sixth Street Partners as it sought to boost its cash reserves in between a decline in revenue. That fundraising valued Airbnb at $18 billion, below its $26 billion valuation in early March before the pandemic began, a source told Reuters.

Airbnb had also launched a string of cost-cutting measures, including pausing hiring, suspending marketing activities, and slashing executive pay, in an effort to save up to $800 million this year, sources told Reuters.

What is the Airbnb IPO Stock Symbol

Airbnb plans to begin trading on Thursday on Nasdaq under the Airbnb IPO Stock Symbol is “ABNB.”

Airbnb IPO Date And Price (Valuation)

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