Airbnb soared 115% at the open of itstrading debut on Thursday, giving the peer-to-peer lodging service a market valuation of more than $100 billion.- The company raised $3.5 billion in funds when it priced its
IPO at $68 per share, giving it an initial market valuation of $47 billion. - An IPO frenzy has quickly materialized in the fourth quarter of 2020, given the eye-popping surge in recent trading debuts for DoorDash and C3.ai.
- $4.
Airbnb soared 115% at the open of its trading debut on Thursday, giving the home-sharing service a market valuation of more than $100 billion.
The stock opened at $146 and hit an intraday high of $165, representing a gain of 143% from its initial public offering price of $68.
That makes Airbnb more valuable than the seven largest US hotel chains combined, including $4, $4, and $4. Marriott International is worth $41 billion, Hilton Worldwide is worth $29 billion, and Hyatt is worth $7 billion.
The smaller hotel names $4, $4, and $4 are each worth $5 billion. $4 is worth just under $3 billion.
Airbnb $4 raising $3.5 billion in proceeds at a valuation of $47 billion. That's in stark contrast to the company's last fundraising round as a private company in April, when the firm raised $4.
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The company was valued as high as $31 billion in a 2017 private funding round. The steep cut to Airbnb's valuation in April came amid a pandemic that temporarily sidelined much of its business as stay-at-home orders swept across the country.
But the company bounced back quickly, as travelers wanted little interaction with people during their travels and flocked to private residences on Airbnb over hotel stays that required interactions with workers and other tourists.
The IPO frenzy of 2020 hasn't been limited to just Airbnb. On Wednesday, $4 and $4 posted $4 and $4. And in September, Snowflake completed the largest software-technology IPO in history and $4.
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