It is time for the great baptism in the stock market for the platform for rental accommodation between individuals Airbnb, which announced on Tuesday its goal of raising between 2,100 and 2,600 million dollars when it opens its capital on Wall Street, which would give it a market value of about $ 35 billion.
The firm, which managed to recover from a few difficult months at the beginning of the coronavirus pandemic, will propose to the market 51.9 million shares at a price of 44 to 50 dollars per share, according to financial documents published on Tuesday.
Airbnb could thus be worth about 35,000 million dollars in the Nasdaq, where it will trade under the symbol ABNB.
Born in San Francisco 13 years ago, this company created a concept that forever changed the travel industry, with four million guests and more than 825 million customers under its belt.
In April, its estimated value based on funding rounds was $ 18 billion, according to data from CNBC.
Then the firm was severely affected by the sanitary measures imposed in the world to contain the coronavirus, and its turnover for the first nine months of 2020 fell 32% when compared to the same period of 2019.
Airbnb urgently sought about $ 2 billion to deal with the crisis, and laid off 25% of its staff.
Since then the group has recovered with a summer vacation in the northern hemisphere. Between July and September the group earned $ 219 million.
Airbnb benefited from bookings for long weekends close to home or from people seeking to telecommute from somewhere other than home.
– Real estate speculation –
The resurgence of covid-19 in the world could affect their efforts, as new lockdowns emerge.
But the simple fact that Airbnb can turn a quarterly profit is positive for Wall Street, where many sharing economy companies, such as Uber, went public without having been profitable, on the grounds of their future potential.
The Airbnb concept emerged in 2017 when Brian Chesky and Joe Gebbia were looking for a way to pay their rent.
In the midst of a serious financial crisis in the world, the idea of finding less expensive temporary rentals, or making some money by renting a room, quickly seduced many people.
Airbnb had to overcome resistance at the beginning, when some cities watched with concern how private houses were in fact transformed into hotels, favoring real estate speculation and affecting the income of traditional hotels.
The company started its listing process in the summer, following a procedure that allows it not to have to immediately reveal all its numbers and thus expose itself more slowly to market scrutiny.
But its arrival on Wall Street has been long awaited: the group announced its intentions in September 2019.
jum / lo / esp / mr / me