Airbnb Seeks Up To $42B Valuation In Upscaled IPO: WSJ

Airbnb, Inc ABNB is upping its initial public offering price range target to $56 to $60 a share compared to the earlier range of $44 to $50, the Wall Street Journal reported Sunday.

What Happened: The vacation home rental company will enjoy a valuation of nearly $42 billion on a fully diluted basis if the IPO is priced at the higher end of the range.

The increased valuation comes after a week of roadshows carried out by Airbnb and another debutant DoorDash Inc.

Morgan Stanley MS, Goldman Sachs Group, Inc GS are the lead underwriters for Airbnb’s IPO and will likely finalize the IPO price in the days ahead, as per the Journal.

Airbnb shares are expected to list on the Nasdaq with the ticker "ABNB."

Why It Matters: This year, $140 billion has been raised so far in initial public offerings in the United States, which is in excess of the record set during the peak of the dot-com boom in 1999, according to Dealogic, the Journal noted.

DoorDash, which will list on Wednesday — a day before Airbnb, has plans to price shares in the range of $90 to $95 a share, which is higher than the previous $75 and $85 price, people familiar with the matter told the Journal.

Goldman Sachs and JPMorgan Chase & Co JPM are underwriters for the DoorDash IPO.

Related Links:

IPO Outlook For The Week: Airbnb, DoorDash Lead Highly Anticipated Week

Airbnb IPO Filing: 5 Key Takeaways Investors Need To Know