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Added on the 16/10/2018 11:18:55 - Copyright : Wochit
Business Insider reports that Airbnb is planning to raise $2.6 billion in its mid-December IPO. The IPO would give Airbnb 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.
San Francisco, Aug 4 (EFE / EPA) .- (CAMERA: Caroline Brehman) The American transportation company Uber announced profits of 1,036 million dollars between January and June 2021, which is a drastic change in trend compared to the 4.711 million in losses registered in the same period last year.
On Monday, Tesla stock climbed as much as 5%. Business Insider reports that Tesla's market capitalization is north of $700 billion. Elon Musk's company exceeded its production target of 500,000 vehicles last year. The company has fallen just short of 500,000 deliveries. "So proud of the Tesla team for achieving this major milestone!" Musk tweeted about the news. Tesla's stock price soared by more than 740% in 2020.
Mike Windle/Getty Images for Airbnb Airbnb soared 115% at the open in its trading debut on Thursday, giving the peer-to-peer lodging service a market valuation of more than $100 billion. Airbnb 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.
A week before the fintech Ant Group went public, Chinese President Xi Jinping called the proceedings to a halt. Business Insider reports Xi stopped the historic $37 billion initial public offering after its founder, Jack Ma, criticized government leaders. At a conference in Shanghai, Ma made incendiary comments that didn't go down well with the president or other government officials. Ma dismissed global banking rules, saying they got in the way of innovation. As large private businesses accumulate wealth and power in the communist nation, Xi has displayed a low tolerance for them as they threaten his authority.