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reThe share price of apartment broker Airbnb more than doubled when it went public on Thursday. The stock continued to trade at an initial price of $ 146, with an issue price of $ 68. Airbnb’s market value passed the $ 100 billion mark.
The price jump is all the more surprising given that the San Francisco company had already raised its share price several times on the way to going public. It wasn’t until the beginning of the week that the range rose from $ 44 to $ 50 to $ 56 to $ 60. At $ 68 a share, Airbnb reached an overall valuation of $ 47 billion. The IPO raised $ 3.5 billion.
Airbnb had been waiting for the possibility of going public this year for some time. However, due to the Corona crisis, it was unclear if this would happen. After an initial dip from the pandemic, the company recently saw a recovery in its business thanks to users traveling shorter distances than before, often by car.
More recently, Airbnb was even able to show a previously rare quarter with black numbers. In the last quarter, the company earned $ 219 million. In the nine months to the end of September, however, there were losses of nearly $ 697 million.
