Airbnb valuation has raced past $100 billion. At the start of trading on the Nasdaq, Airbnb had a market capitalization of $86.5 billion. The shares of the home rental company more than doubled in their trading debut, raising its valuation to about $100 billion, making it one of the biggest first-day rallies on record.
Airbnb has raised $3.5 billion and capped a drawn-out exit for its venture and private equity backers, beating out DoorDash’s approximately $3.40 billion offering and deals from Snowflake and Palantir.
Airbnb opened at $146 on the Nasdaq, up 113% from the $68 initial public offering price per share. The stock hit a high of $165 and closed at $144.71. Airbnb’s market value, based on its outstanding shares, makes it the world’s biggest online travel company.
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