Airbnb to Raise Up to $ 2.6 Billion with its IPO

Peer-to-peer rental platform  wants to raise between $ 2.1 billion and $ 2.6 billion when it is listed on Wall Street next, which would value the company up to $ 35 billion, according to financial documents released Tuesday.

The company proposes to market 51.9 million shares, at a price range of $ 44 to $ 50 per unit.

Including the over-allotment option and at the high end of the range, that would value the company at $ 30 billion.

Including all the shares, including those granted to employees, this amount would rise to 35 billion dollars (approximately 29 billion euros).

The company, born in San Francisco 13 years ago, has created a concept that has shaken the business travel and tourism industry, with 4 million guests on its record.

It plans to list on the Nasdaq under the symbol “ABNB”.

Its valuation climbed to $ 31 billion during a spring 2017 fundraiser before falling to $ 18 billion last April, according to CNBC.

Airbnb was then hit hard by the sanitary measures imposed around the world in winter and last spring. Its sales for the first nine months of 2020 plunged 32% year on year to $ 2.5 billion.

Airbnb is one of a group of technology companies that plan to enter Wall Street before the end of the year. Notably, food delivery service DoorDash said on Monday that it wanted to raise just over $ 2 billion when it arrived on Wall Street, which would value the company at at least $ 25 billion.

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