Airbnb seeks to raise $2.6 billion in its mid-December IPO, giving it a valuation of up to $35 billion

Airbnb seeks to raise $2.6 billion in its mid-December IPO, giving it a valuation of up to $35 billion
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  • Airbnb plans to raise $2.6 billion in its mid-December IPO, giving it a valuation of up to $35 billion.
  • The company plans to list about 50 million shares at between $44 and $50 per share, a regulatory filing showed.
  • Airbnb will list on the NASDAQ under the symbol "ABNB."
  • It was previously eyeing a $30 billion valuation, with $3 billion in proceeds.

Airbnb is seeking to raise $2.6 billion in its December IPO, giving it a valuation of up to $35 billion on a fully diluted basis, the company said in a filing with the Securities and Exchange Commission on Tuesday.

The home rental company plans to list about 50 million shares at between $44 to $50 per share, according to the filing. It was previously aiming for a $30 billion valuation.

Airbnb will list on the NASDAQ under the ticker symbol "ABNB." The company's investor roadshow is scheduled to begin Tuesday and its IPO for later this month.
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The company posted a third-quarter profit of nearly $220 million on $1.3 billion in revenue, up from a second-quarter net loss of $575.6 million on $334.8 million in revenue as the company's bookings recovered slightly after the pandemic devastated its home rental business.

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Its profitable third quarter came in the midst of severe cost-cutting measures. For the first nine months of the year, Airbnb posted a drop of 32% in revenue to $2.5 billion, from $3.7 billion in the same period last year. Losses grew to $696.9 million from $322.8 million in this period.
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Meanwhile, DoorDash plans to raise $2.8 billion in the other most anticipated IPO this month. That would give the food delivery service a valuation of $32 billion. The company said its offering will be priced at between $75 to $85 per share. DoorDash will trade on the NYSE under the ticker symbol "DASH."

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