Airbnb went public and issued an IPO in December 2020, allowing investors to purchase shares in the company which is reportedly valued at over $30 billion.
Airbnb’s CEO, Brian Chesky surprised financial experts by announcing that the multi-billion-dollar company would now be listed on the public stock exchange, as of Thursday, 10 December 2020.
Many were surprised to see the business make such a drastic move, as other companies had chosen to keep financial activity at a minimum amid the global coronavirus pandemic.
According to The Conversation, shares were originally priced between $45 and $50 each, but increased to between $55 and $60 the day before listing.
By the time of the listing, the final share price was $68.
The Initial Public Offering (IPO) is expected to bring in new funds for the business of up to $3 billion and, if successful, increase the value of Airbnb to close to $42 billion.
Airbnb filed details about its financial decisions with the US Securities and Exchange Commission, and claimed that the plan is for the business to raise additional capital for funding future growth.