Airbnb has raised the price of its shares ahead of its initial public offering this week, betting investors will pay more given its resiliency during the pandemic.In a government filing Monday, Airbnb said it expects to price its shares between $56 and $60 each, up from a range of $44 to $50 earlier this month.
Airbnb is expected to issue a final share price late Wednesday ahead of its Thursday IPO on the Nasdaq Stock Market.The new price would let the San Francisco-based home sharing company raise up to $3.4 billion in the offering.
It would give Airbnb a valuation of $42 billion. That’s more than double the $18 billion the company was valued at during a private fundraising round in the spring, when the pandemic shut down global travel and.