Airbnb 's highly anticipated initial public offering is set to take place on Thursday, and its stock is already indicated to open at more than double what Airbnb priced its shares at.- The
news surprised CEOBrian Chesky so much, he was momentarily speechless during $4 on Thursday morning. - "That's the first time I've heard that number," Chesky said, later adding, "I'm very humbled by it."
Airbnb's initial public offering is set to be one of the biggest listings of the year, and its stock is already indicated to open so high that it's left CEO Brian Chesky speechless.
Chesky $4 Thursday morning ahead of Airbnb's IPO. During the interview with host Emily Chang, news broke that Airbnb was indicated to open at $139 per share when it begins trading later today (that price has since $4).
Chang asked Chesky whether, given the increased indicated share price, he was concerned about froth, or when a stock's price goes beyond a company's intrinsic value. Chesky looked visibly surprised during the exchange and was momentarily speechless.
"That's the first time I've heard that number," Chesky said. "Um, that is, that's, I, when we - In April, we raised money, and it was a debt financing. That price would have priced us around 30 bucks. So, I, I don't know what else to say."
"I'm very humbled by it," he added. "The higher the stock price, the higher expectations, the harder we're going to be working obviously."
Watch the moment Chesky finds out Airbnb's share price is set to skyrocket below:
—Bloomberg (@business) $4
The 12-year-old home-sharing company was looking to raise $3.5 billion in the IPO, which would give it a valuation of $47.3 billion, making it one of the biggest tech IPOs ever. Airbnb had $4 on Wednesday, meaning the indicated share price had more than doubled ahead of trading.