The WSJ reports that Airbnb is expected to price its IPO at $ 67, or $ 68 per share. The American hospitality unicorn raised its IPO price target from $ 44 to $ 50 to $ 56 to $ 60 earlier this week.
While we're still waiting for official pricing, Airbnb is valued at $ 41 billion at IPO based on the company's upper price estimate and the company's stock count of 602,448,251 from its most recent S-1 / A filing. That number grows sharply if we include more than 50 million shares that could be added to the mix if vested employee options were exercised. The company's fully diluted valuation at IPO price was calculated at $ 47 billion.
Axios reports that Airbnb raised $ 3.5 billion on its fully diluted valuation.
Regardless of how you prefer to rate the company, its value has risen sharply from an early pandemic nadir of $ 18 billion. After COVID-19 devastated the company's business, it laid off employees and acquired external capital.
Since the end of the first quarter and the first few months of the second quarter, Airbnb has recovered and can now go public and achieve its highest rating yet.
Company pricing comes after both DoorDash and C3.ai were each above their own elevated price ranges and their shares soared on the first day of trading. A certain exuberance was therefore not unexpected.
Airbnb starts trading tomorrow morning. More than.