Airbnb Inc. is offering 51.9 million shares at $44 to $50 apiece to raise about $2.6 billion in a long-awaited initial public offering, according to Bloomberg. The IPO would take Airbnb’s fully diluted market value to nearly $35 billion at the top end of the indicative range. The valuation includes employee stock options and restricted share units.
- Airbnb is currently planning to price its IPO on December 9 and the shares to make a debut on the Nasdaq Global Select Market the following day,
- The IPO valuation and price range could change depending on its stock demand over the next few weeks.
- Airbnb’s highest valuation as a private entity was $31 billion in 2017, while in April, it was valued by Silver Lake and Sixth Street Partners at only $18 billion.
- IPO launch comes when Airbnb is bouncing back from pandemic impacts that saw its gross booking value tumble to $18 billion for the nine months ended September 30.
- Airbnb reported an income of $501 million in the third quarter, up from a loss of $400 million in the second quarter due to pandemic impacts that grounded global travel.
- Airbnb joins a group of companies planning listings, including food delivery service DoorDash Inc., video-game company Roblox Corp., installment loans provider Affirm Holdings Inc. and ContextLogic Inc.
Airbnb’s $2.6 billion IPO would be the fourth-biggest in the U.S. this year.
