Airbnb, the operator of the eponymous accommodation booking platform, raised $3.5 billion in the largest initial public offering (IPO) of this year, with the American company being valued at approximately $47 billion, exceeding estimates.
Airbnb sold shares at an IPO price of $68 per unit, whereas the targeted price range was $56-$60.
According to the New York Times, this is the largest IPO of the year, surpassing DoorDash and Snowflake.
Founded in 2008, Airbnb facilitates short-term accommodation rentals, connecting tourists with property owners. In 2019, the company reported a net loss of $674 million and revenues of $4.81 billion.
Frequently Asked Questions
How much did Airbnb raise in its IPO?Airbnb raised $3.5 billion, making it the largest initial public offering of the year.
What was Airbnb’s valuation at the time of the IPO?The company was valued at approximately $47 billion, which was higher than initial estimates.
What was the final IPO price per share?Airbnb shares were priced at $68 each, exceeding the initial target range of $56-$60.