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Vacation Rental Online Marketplace Company AIRBNB Set Terms for $2.4 Billion US IPO

Esther Thin

Airbnb Inc, a vacation rental online marketplace company, has filed Amendment No 1 to Form S-1 Registration Statement December 1, 2020 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $2.4 billion by offering 51.9 million shares at the price range of $44 to $50. Assuming a successful IPO at the midpoint of the proposed range, the company expects a market capitalization of $32.3 billion.

The company has expanded from homes to now include experiences that can be taken in cities all over the world which more than 220 countries and regions, or even online.

The San Francisco, California -based company was founded in 2008 and booked $3.6 billion in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq Global Select Market  under the symbol “ABNB.” Morgan Stanley, Goldman Sachs, Allen & Company, BofA Securities, Barclays, Citi, BNP Paribas, Mizuho Securities, Credit Suisse, Deutsche Bank, Jefferies and Wells Fargo Securities are the underwriters of the IPO.

The company engages Latham & Watkins LLP as US Securities Counsel, and PricewaterhouseCoopers LLP as Independent Auditor.

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