Airbnb set to raise $2.5bn via US stock market listing

Airbnb is set to raise as much as $2.5 billion in its long-awaited initial public offering.

The home-sharing giant is expected to be valued at almost $35 billion in the US stock exchange listing on December 9.

The home-rentals business set the price range of its float at between $44 and $50 per share as it gears up to sell almost 52 million shares.

The San Francisco-based accommodation booking service recorded losses of almost $700 million on revenues of $2.5 billion in the first nine months the year, widening from losses of $323m in the same period in 2019.

Airbnb suffered a $576 million loss in the second quarter as the Covid-19 pandemic hit the travel industry.

However, the company rebounded to a profit of $219 million in the third quarter covering the summer period, helped by a rise in US domestic travel.

Airbnb’s highest valuation as a private company was $31 billion in a funding round in 2017.

The short-term letting platform previously planned an IPO for earlier this year but it appeared to be on hold due to the pandemic.

Share article

View Comments

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.