Airbnb has priced its initial public offering at $68 per share, significantly above its target range, in a sign of investor confidence in both Airbnb’s home-sharing business and the long-term recovery of the travel industry at large.
The price, confirmed by two people briefed on the matter, means the short-term rental company has raised $3.4bn from the offering, ahead of its Nasdaq debut on Thursday. It had earlier said it expected its shares to be priced between $56 and $60 each.
The higher-than-expected pricing follows a strong debut for DoorDash, the food delivery company, which enjoyed a first day pop of about 85 per cent on Wednesday, hitting a market capitalisation of $60bn.
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