Airbnb Jumps the Gun Again with Updated Valuation Target

Only a little over a week since we reported Airbnb’s raised valuation target of $33 billion, the short-term rental hosting platform has announced a new valuation target of $42 billion. Airbnb also upped its set price range for shares from $44-$50 to $56-$60. 

With a plan to sell 50 million shares of Class A common stock, along with stockholders selling their own shares, Airbnb plans to raise over $3 billion through this long-awaited IPO which is partly the reason the company is jumping its valuation up to $42 billion. This would make it the largest IPO of the year, rivaling Snowflake. 

Airbnb hasn’t had the easiest year due to lockdowns and travelers canceling their plans in droves. It has cut down on staff considerably, rethought part of its business model to cope with the lack of traveling, and capped party house sizes. 

Though many companies have had a shaky year, not all privatized companies have canceled their IPO plans. Besides Snowflake, which raised $3.36 billion via its IPO and hit a valuation of $33.2 billion, other big names that have gone public this year include Roblox, Wish, and DoorDash. 

Airbnb is set to begin trading on Thursday under the ticker ABNB.