According to a new filing submitted to the SEC on Tuesday, RBNB plans to valuate its IPO at to 3 billion to $ 20 billion per share. The company wants to raise about $ 3 billion in an IPO. Existing investors want to sell millions of dollars worth of stock in an IPO.
RBNB’s last private valuation was 18 18 billion, while the company struggled in the early months of the epidemic earlier this year after collecting 2 2 billion in debt. Which was almost half of its top private valuation (31 31 billion) since 2017.
The company will list under the ticker “ABNB” on the Nasdaq. It is expected to have an IPO later this month. RBNB’s roadshow, where it makes its pitch for investors, will begin on Tuesday.
RBNB unveiled its first S-1 last year, with net income of 21 219 million in the third quarter of this year, about% 1.34 billion, down nearly 19% from the previous year. Like most travel companies, the Kovid-19 epidemic has seen a decline in RBNB’s business.
But after cutting about 25% of its staff, or 1,900 employees, in May, RBNB saw its business boom rapidly the following year. In the midst of the epidemic, people were thankful for the increase in rents in rural areas waiting for a safe rescue. The company was expected to launch an IPO in the first half of the year, but the epidemic pushed those plans forward.
But with positive vaccine news in the markets and the president-elect Joe Biden winning the election last month high, there is now a good atmosphere for companies to go public.
In addition to RBNB, Dordash, maker of the popular food delivery app, is also expected to make an IPO this month. Doordesh unveiled its updated S-1 filing on Monday and finds its initial value up to 32 32 billion. This is the last private valuation of 16 16 billion in June.
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