Airbnb soars 115% in trading debut as valuation pushes past $100 billion (ABNB)

<p><img src="https://static4.businessinsider.com/image/5fd23fc430f2740018b0f0ba-2000/GettyImages-623872592.jpg" border="0" alt="airbnb founders Joe Gebbia Nathan Blecharczyk and CEO Brian Chesky" data-mce-source="Mike Windle/Getty Images for Airbnb" data-mce-caption="Airbnb Founders, Chief Product Officer Joe Gebbia, CTO Nathan Blecharczyk and CEO Brian Chesky speak onstage during the &amp;quotIntroducing Trips&amp;quot Reveal at Airbnb Open LA on November 17, 2016 in Los Angeles, California."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>Airbnb soared 115% at the open of its trading debut on Thursday, giving the peer-to-peer lodging service a market valuation of more than $100 billion.</strong></li><li><strong>The company raised $3.5 billion in funds when it priced its IPO at $68 per share, giving it an initial market valuation of $47 billion.</strong></li><li><strong>An IPO frenzy has quickly materialized in the fourth quarter of 2020, given the eye-popping surge in recent trading debuts for DoorDash and C3.ai.&nbsp;</strong></li><li><strong><a href="https://markets.businessinsider.com/stocks/abnb-stock">Watch Airbnb trade live here</a>.</strong></li></ul><hr><p>Airbnb soared 115% at the open of its trading debut on Thursday, giving the home-sharing service a market valuation of more than $100 billion.</p><p>The stock opened at $146 and hit an intraday high of $165, representing a gain of 143% from its initial public offering price of $68.</p><p>That makes Airbnb more valuable than the seven largest US hotel chains combined, including <a href="https://markets.businessinsider.com/stocks/mar-stock">Marriott</a>, <a href="https://markets.businessinsider.com/stocks/hlt-stock">Hilton</a>, and <a href="https://markets.businessinsider.com/stocks/h-stock">Hyatt</a>. Marriott International is worth $41 billion, Hilton Worldwide is worth $29 billion, and Hyatt is worth $7 billion.</p><p>The smaller hotel names <a href="https://markets.businessinsider.com/stocks/chh-stock">Choice Hotels</a>, <a href="https://markets.businessinsider.com/stocks/wh-stock">Wyndham Hotels</a>, and <a href="https://markets.businessinsider.com/stocks/wynd-stock">Wyndham Destinations</a> are each worth $5 billion. <a href="https://markets.businessinsider.com/stocks/stay-stock">Extended Stay</a> is worth just under $3 billion.</p><p>Airbnb <a href="https://markets.businessinsider.com/news/stocks/airbnb-ipo-stock-offering-price-filing-abnb-trading-debut-nasdaq-2020-12-1029879403">priced its IPO at $68 per share,</a> raising $3.5 billion in proceeds at a valuation of $47 billion. That's in stark contrast to the company's last fundraising round as a private company in April, when the firm raised <a href="https://therealdeal.com/2020/04/08/airbnbs-1b-fundraise-comes-with-a-hefty-valuation-cut/">$1 billion at a valuation of $18 billion</a>.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/top-wall-street-investors-of-2020-stock-picks-2021-outlook-2020-12" target="_blank" rel="noopener">We spoke with Wall Street's 9 best-performing fund managers of 2020 to learn how they crushed the chaotic marketand compile the biggest bets they're making for 2021</a></em></p><p>The company was valued as high as $31 billion in a 2017 private funding round. The steep cut to Airbnb's valuation in April came amid a pandemic that temporarily sidelined much of its business as stay-at-home orders swept across the country.</p><p>But the company bounced back quickly, as travelers wanted little interaction with people during their travels and flocked to private residences on Airbnb over hotel stays that required interactions with workers and other tourists.&nbsp;</p><p>The IPO frenzy of 2020 hasn't been limited to just Airbnb. On Wednesday, <a href="https://markets.businessinsider.com/stocks/dash-stock">DoorDash</a> and <a href="https://markets.businessinsider.com/stocks/ai-stock">C3.ai</a> posted <a href="https://markets.businessinsider.com/news/stocks/doordash-stock-price-ipo-public-trading-debut-nyse-dash-offering-2020-12-1029878632">substantial gains of 86%</a> and <a href="https://markets.businessinsider.com/news/stocks/c3ai-stock-price-public-trading-debut-ipo-siebel-software-ai-2020-12-1029878898">174%, respectively</a>. And in September, Snowflake completed the largest software-technology IPO in history and <a href="https://markets.businessinsider.com/news/stocks/snowflake-stock-price-more-valuable-ibm-after-post-ipo-rally-2020-12-1029874669">has been on a tear since its debut</a>.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/cathie-wood-market-outlook-tesla-salesforce-slack-merger-bitcoin-webinar-2020-12" target="_blank" rel="noopener">Cathie Wood is beating 99% of fund managers this year. The ARK CEO and her team share their outlooks for 2021including thoughts on Tesla's $5 billion stock sale, the Salesforce-Slack tie-up, and bitcoin's meteoric rise.</a></em></p><p><a href="https://markets.businessinsider.com/news/stocks/airbnb-stock-price-ipo-trading-debut-valuation-past-100-billion-2020-12-1029882956#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/melissa-maker-clean-your-home-quickly-cleaning-expert-2017-4">A cleaning expert reveals her 3-step method for cleaning your entire home quickly</a></p>
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