In this week's CX Newsbyte there are acquisitions, increasing brand evaluations, AI and sentiment analytics news and more from the world of CX and marketing.
Airbnb Prices IPO at $68 a Share, which Brings Its Valuation to $47 Billion
Dec 10 2020 · 11:44 UTC by Daria Rud · 3 min read
Photo: Depositphotos
Airbnb starts trading today on the Nasdaq exchange under the symbol “ABNB.”
US vacation rental online marketplace platform Airbnb has made its Initial Public Offering (IPO) debut. The company sold its shares at $68 per each, which is much higher than the originally set price. The pricing sets a valuation for Airbnb of about $47 billion and makes its IPO the largest IPO of the year.
Airbnb submitted its IPO filing on November 16. Initially, the company set the price range per share between $44 and $50 and targeted to raise $2.5 billion. On Monday, December 7, Airbnb raised it to $56 to $60 per share. The company has already sold 51.5 million shares, topping all the Wall Street expectations and raising $3.5 billion.