Business

Airbnb seeks to raise roughly $3 billion in IPO


Home rental company Airbnb is aiming to raise around $3 billion in its upcoming initial public offering, people familiar with the matter said on Friday, taking advantage of the unexpectedly sharp recovery in its business after the COVID-19 pandemic roiled the travel industry.


The company could achieve a valuation of more than $30 billion in the IPO, the sources added, again cautioning this was subject to market conditions.


The push to go public and the growth in its potential valuation underscores Airbnb's dramatic recovery from earlier this year when it secured emergency funding from investors and the outlook for the travel industry was uncertain.


Since then, San Francisco-based Airbnb has benefited as travelers shy away from larger hotels and instead prefer to drive to local vacation rentals.


Shares of U.S. online travel agency Booking Holdings , which some Airbnb investors use as a conservative public market proxy for its own stock, have rebounded more than 35% in the past six months.


Home rental company Airbnb is aiming to raise around $3 billion in its upcoming initial public offering, people familiar with the matter said on Friday.






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