In this year’s biggest IPO, Airbin Inc. shares more than doubled from their stock market opening on Thursday, raising the company’s valuation to nearly $ 90 billion. Airbnb ABNP opened +112.81% trading at 6,146, up 114.7% from its initial public offering price of $ 68, up 113% from 4,144.71 at the close of the day. The IPO price was higher than the company’s most recent expectation of $ 56 to $ 60, which was already highly revised, resulting in this year’s largest non-SPAC initial public offering. Founded in 2008, the San Francisco-based company has become a platform for people around the world to rent their homes, beginning the day with a minimum of $ 3.5 billion raised at an estimated value of over $ 40 billion. At the close of trading, Airbin’s market capitalization was approximately Rs.58.56.5 billion, slightly higher than the market cap of Booking Holdings Inc. PKNG, -0.11%, is a large and established online-travel company. Other valuation methods hold the company’s value at more than $ 100 billion, according to Booking’s Integrated Market Caps and another competitor, Expedia Group Inc. In a founding letter to XP, + 1.27% added to Airbin’s prospectus, Brian Cesky said earlier this year that the CEO intends to go public – and 80% of its business – before clearing the COVID-19 infection locks trip – and that costs 1,900, including 25% Was forced to cut drastically. Its employees. A few months later, the company moved forward again as restrictions on staying at home were eased. Passengers have benefited from Airbnb’s continuing corona virus concerns as they prefer to stay at home instead of hotels, which one company expects to continue. “I’m so thankful to be here today, very lucky,” Cesky said in a CNBC interview on Thursday morning, including a video of himself and co-founders Joe Kepia participating in a virtual bell ring at the Nate Bleachers Nostalg Global Select Market on Airbnb World . Asked if he was worried about high ratings and the expectations that come with them, the CEO said, “I don’t think I’m going to be more worried than I did in April and May.” Infectious locks. See: 5 Things to Know About Airpin In general, Cesky said the company has seen a change in the way people travel, which is supported by the findings of Cardiff, a market research firm that surveys customers and finds out what happens last. Start trips, or use Airbnbs to isolate or work remotely. According to Cardiff data, the cost of airbin accommodation has risen from 19% last year to about 33% this year. The company’s regeneration is better than other travel-booking sites. Its third-quarter revenue fell 32% year-on-year, 58% to Expedia and 48% to bookings. “Related to the hotel industry, Airpin offers a unique product that attracts a lot of people,” said James Kellert, CEO of Rapid Ratings, a company that evaluates the finances of private and public companies. In terms of profits, Airbin lost more money in the first nine months of the year than it did in the previous year. In its prospectus, it said it had suffered losses every year since its inception and warned that it should not make a profit. Other risk factors for the company are regulatory concerns, some of which are related to its effects on the environment, housing prices and more. Airbnb “may face legislative efforts [pushback from] Communities but it does not dampen investor interest, ”said Eric Schiffer, CEO of Patriarch, a private equity firm. He called the company’s business model “bomb-proof.” Airbnb’s largest investors include Sequoia Capital, Founders Fund and DST Global. Prior to the offerings, they had 16.5%, 5.4% and 2.3% of the vote, respectively. The combined vote of the co-founders was 43.6% of the total. The list is led by Morgan Stanley and Goldman Sachs and, with more than 30 underwriters, can access a total of 5 million shares. The company’s offer is to Turtash Inc., a food delivery utility manufacturer. Another San Francisco-based company, Dash and other companies, is following in the footsteps of other companies that have gone public and exploited investors’ insatiable appetite for IPOs this year. .
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