August 6, 2021

Airbnb makes a big splash on Wall Street

Thursday, December 10, Airbnb took its first steps on the American stock market, on the Nasdaq. The title more than doubled during the day.

[Article actualisé le 11/12/2020] Its symbol is now “ABNB” on Wall Street. Airbnb landed on the Nasdaq trading platform yesterday, with an introductory price of $ 68. An amount raised several times in the face of investor appetite.

Unicorn

The title finished more than double, to 144.71 dollars (+ 113%). Airbnb is now valued at around $ 100 billion on the stock market according to Bloomberg – more than Expedia and Marriott combined notes the New York Times. She thus attains the status of unicorn. This start with fanfare rekindled fears of a speculative bubble. Airbnb was valued at $ 30 billion in 2016.

The Californian group sold 51.5 million shares, which enabled it to recover $ 3.5 billion in new money. It is the most important IPO of the year.

The Nasdaq Tower today. © LL

Activity is down 32% in 2020

The opening ceremony was broadcast live on the Nasdaq Tower in New York. The company donated part of its temporary advertising space on this tower to Fridays for Future, the organization created by Greta Thunberg in favor of the fight against climate change.

This year, the group is suffering from the consequences of the health crisis, even if the growth of vacations and local stays allows it to limit the damage. Its revenue for the first nine months of 2020 fell 32% year on year to $ 2.5 billion, according to Nasdaq.com. His net loss more than doubled to nearly $ 697 million.

In 2020, Airbnb had to urgently raise $ 2 billion, and lay off 25% of its employees.

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