Airbnb IPO Rises 112% on Day 1, Raised $3.5 billion
9th December 2020 | Hong Kong
Airbnb, the world’s leading short-term stay booking platform, has raised $3.5 billion at their IPO on NASDAQ, with shares rising 112.8% on first day of trading (9/12/20). Airbnb IPO price is $68, with the share price opening at $156 and closing at $144.71 on day 1 of trading. At closing Airbnb has a market value of $86 billion.
” Airbnb IPO on NASDAQ, Rises 112% on day 1, raised $3.5 billion “
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Airbnb
Airbnb is a short-term stay and travel experience booking platform. The firm was founded in 2008 as Airbed & Breakfast’s in San Francisco, United States. 3 guests “stayed” at CEO and co-founder Brian Cheskey’s home in San Francisco. In 2009, the firm was renamed Airbnb.
Since founding in 2008, Airbnb have hosted more than 800 million guests, with more than 4 million hosts receiving income of more than $110 billion. In 2020, Airbnb has more than 5.6 million listings in 100,000+ cities and 220+ countries. In 2019, Airbnb reported revenue of $4.8 billion and net loss of $674 million. In 2020, the firm reported revenue of $2.52 billion and $697 million net loss.
The founders of Airbnb are Brian Cheskey Airbnb CEO and co-founder (15.1% shares), Nathan Blecharczyk (13.9% shares) and Joseph Gebbia (13.9%). With the IPO and the share price rising 112.8% to a market value of $100 billion, all 3 co-founders have a person fortune of more than $10 billion each.
Airbnb competitors are Expedia, Booking and Tripadvisor.
Airbnb IPO
Airbnb IPO original price target was $56 – $60 and the final IPO pricing at is priced at $68, selling 51.5 million shares and raising $3.5 billion.
The lead underwriters for Airbnb IPO are Morgan Stanley and Goldman Sachs. Notable investors include Sequoia Capital, Silver Lake and Sixth Street.
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