Thursday 10 December 2020
Airbnb course more than doubled
Accommodation broker with dream stock market debut
Airbnb's IPO is eagerly awaited. One week before the first trading bell, the share price is raised again. The first price is even higher – and at the end of the first day the company is valued at $ 100 billion.
The share price of the apartment broker Airbnb more than doubled when it went public on Thursday. The shares went on sale at an initial price of $ 146 – with an issue price of $ 68. The stock market value of Airbnb passed the 100 billion dollar mark.
The price jump is all the more striking since the company from San Francisco had already raised its share price several times on the way to going public. It wasn't until the beginning of the week that the range was raised from $ 44 to $ 50 to $ 56 to $ 60. At $ 68 a share, Airbnb came to an overall valuation of $ 47 billion. The IPO raised $ 3.5 billion.
Airbnb had been holding out the prospect of going public this year for some time. Due to the Corona crisis, however, it was unclear whether this would happen. After an initial slump from the pandemic, the company recently saw a recovery in its business thanks to users who travel shorter distances than before, often by car.
Most recently, Airbnb was even able to show a previously rare quarter with black numbers. In the past quarter, the company made $ 219 million. In the nine months to the end of September, however, there were losses of nearly $ 697 million.
The Corona year 2020 is already a record year for IPOs in the USA and Airbnb underlines the demand especially for tech companies. So far, according to Bloomberg data, companies have raised more than $ 163 billion from IPOs in the US this year – more than ever before.
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