Airbnb overcame the stakes by more than double in its company’s Wall Street debut on Thursday, valuening the group at $100 billion.
The shares opened at $146, with the initial public offering (IPO) priced at $68. The stock quickly hit a high of $165, marking the biggest US float of 2020.
Airbnb CEO Brian Chesky commented on the stock price surge: I’m very humbled by it. ”
Based on Thursday’s stock price, the three Airbnb co-founders will be billions of years.
Cesky founded his company in 2008 in an apartment in San Francisco. The company currently has a short-term listing of over 7 million items worldwide.
Commenting on Airbnb’s IPO, Jay Ritter, professor of finance at the University of Florida, said: The ratings spoken a week ago (Airbnb) about a month ago, about a week ago, were not close to today’s numbers. It’s a great company, but its high ratings are pretty noteworthy. ”
In November, the group recorded a loss of $697 million (£527 million) for the nine months leading up to the end of September. The losses grew from a $323 million loss posted in the same period last year.
Proveing its huge success, Airbnb fired and did not do without its controversy. Many city residents and local governments are cracking down on the group for impact on local residents.
This week, Amnesty has also called on the group internationally to remove 200 rental lists of illegal Israeli-occupied Palestinian territory.
“There should not be any company that is a party to human rights abuse, and that will be deeply compromised until Airbnb ends its business ties with Israeli settlements,” said Sale Higazi, deputy director of the Middle East at Amnesty International. ”
