San Francisco
Home-sharing giant Airbnb bumped its share price up to $68 heading into its stock market debut Thursday, putting the San Francisco-based company in a position to raise about $3.7 billion, the Wall Street Journal and other outlets reported.
The offering, whose share price is far higher than the range Airbnb had previously indicated, gives the rental platform a market value of about $47 billion, the Journal reported.
The company, which will be listed on the Nasdaq stock exchange under the ticker symbol “ABNB,” said in a filing with securities regulators that its home-sharing model proved resilient during the global pandemic, as it posted a profit for the just-ended quarter.
“People wanted to get out of their homes and yearned to travel, but they did not want to go far or to be in crowded hotel lobbies,” the document said. –AFP
