Airbnb seeks to raise $2.5B in IPO
The company plans to trade on the Nasdaq.
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Airbnb on Tuesday revealed the planned share price for its initial public offering. The short-term rental company plans to offer 50 million shares at $44 to $50 per share, according to a filing with the US Securities and Exchange Commission. The company seeks to raise $2.5 billion in its IPO, reportedly giving it a valuation of up to $35 billion.
In November, Airbnb filed paperwork for its initial public offering, showing that it's been profitable in several quarters over the last couple of years. The company has taken a hit in recent months, though, due to the coronavirus pandemic as people cut back on travel and adhered to shelter-in-place mandates.
Airbnb is the latest private company valued at more than $1 billion -- what's known as a unicorn -- to head to Wall Street. Ride-hailing companies Uber and Lyft went public in 2019, and food delivery service DoorDash plans to hold its IPO this month.
Airbnb plans to trade on the Nasdaq under the symbol ABNB. Trading is expected to start later this month.
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