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Airbnb has managed to turn the tide after a difficult few months at the start of the coronavirus pandemic.
WASHINGTON: Shared housing giant Airbnb, which is scheduled to go public this week, will significantly increase the price of its IPO, valuing the group at more than $ 40 billion, the Wall Street Journal reported Sunday.
The group is expected to announce a price range of between $ 56 and $ 60 per share, from $ 44 to $ 50, according to the newspaper.
Airbnb did not respond when contacted Sunday for comment.
The vacation rental platform, which has managed to turn the tide after a difficult few months at the start of the coronavirus pandemic, said its initial public offering would include 51.9 million shares.
The group will go public on Thursday and will be listed on the Nasdaq stock exchange platform under the symbol “ABNB.”
At the highest price, the champion of the concert economy could achieve a market valuation of $ 42 billion.
In a testament to Wall Street’s appetite for IPOs for new unicorns, food delivery service DoorDash will make its debut on the market a day before Airbnb.
The startup, fueled by trade restrictions due to the virus, also raised its initial public offering unit price range to between $ 90 and $ 95 a share on Friday, up from $ 75 to $ 85 earlier.
The food delivery company will now target a valuation of more than $ 30 billion.
Wall Street has set new records in the past two weeks, with the Dow Jones and Nasdaq closing at record highs on Friday.
