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Added on the 07/12/2020 09:37:38 - Copyright : Wochit
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.
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.