Yahoo Finance Airbnb IPO now seeks $35B valuation
Ahead of its pending initial public offering, Airbnb is more confident in the outlook for the home-sharing company.
In an updated S-1 filing with the Securities and Exchange Commission, its valuation is now just over $30 billion, slightly higher than a few months ago as it plans to sell shares between $44 and $50 apiece as it raises over $2.6 billion.
Airbnb Aims to Raise $2.6B
The San Francisco-based company has 4 million users in over 220 countries still the COVID-19 pandemic remains a risk to its business.
It lost $696.9 for the first nine months that ended in September 2020. But the company earned $2.5 billion in revenue during the same time period.
AIRBNB FILES IPO DETAILS: WHAT TO KNOW
Proceeds from the deal will be used for "general corporate purposes, including working capital, operating expenses and capital expenditures," according to the prospectus.
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The offering, which will be a traditional IPO, will be listed on the Nasdaq Global Select Market and will trade under the ticker symbol "ABNB."
Morgan Stanley and Goldman Sachs are the lead underwriters.
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FOX Business' Alexandra Deabler and Lucas Manfredi contributed to this story.
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