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Airbnb IPO raises at least $3.5 billion, challenging DoorDash and Snowflake for largest IPO of the year

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Airbnb Inc. pulled off one of the largest initial public offerings of 2020 despite a pandemic that laid waste to much of the travel industry.

The lodging-booking platform priced its initial public offering at $68 a share Wednesday, the Wall Street Journal reported, well above its most recent target range of $56 to $60, which it had already revised upward. At its IPO price, Airbnb
ABNB,

is expected to raise at least $3.5 billion with an initial market capitalization topping $40 billion.

That would top Airbnb’s opening act on the 2020 IPO train, DoorDash Inc.
DASH,
+85.79%
,
which began trading Wednesday…



Source marketwatch.com

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