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Airbnb has made its debut on the stock market, and no way!
Although share prices were originally estimated to be between $ 44-50, the issue price range was raised to $ 56-60 earlier this week due to growing interest from investors. Finally, the company values were entered at a price of $ 68., but
the shares have already debuted on the Nasdaq at $ 146,
which is more than double the issue price.
The company thus achieved the highest value initial public offering (IPO) in the United States in 2020. It issued a total of 51.67 million shares, representing a capital raise of $ 3.5 billion with a price of issuance of $ 68 and a market capitalization of $ 47.3 billion.
however, based on stock price, the company is worth $ 101.6 billion, more than its main competitor, Booking Holdings.
Shares of the online accommodation market, founded in 2008, traded between $ 141.25 and $ 165 on Thursday, Airbnb’s first day of trading in securities, rose 142.6 percent from a daily high and eventually closed at $ 144.71.
Airbnb had already planned to go public in the spring, but the plan did not materialize at that time due to the coronavirus epidemic. Tourism, hospitality and tourism fell dramatically, revenues fell, so Brian Chesky, CEO of the company, announced that
send 1,900 employees, about 25 percent of the workforce
In Europe, the United States and Asia.
The company, on the other hand, made a profit in the third quarter of 2020 when tourism resumed and people preferred these accommodations to hotels. However, earnings were still 18 percent lower than a year earlier.
I don’t think many people would have expected Airbnb to go public this year. It was an incredible journey
Brian Chesky told Reuters.
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