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Airbnb now targeting $42B valuation for IPO

Home-rental company now proposes share price of $56 to $60

Airbnb CEO Brian Chesky (Getty)
Airbnb CEO Brian Chesky (Getty)

Airbnb is going even bigger for its IPO.

The home-rental company wants to boost the proposed share price, which would give it a valuation of as much as $42 billion, according to Bloomberg.

Airbnb now wants to set the share price range at between $56 to $60 according to the report. That’s up from $44 to $50, which gave it a target valuation of up to $33 billion.

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Airbnb’s stock market debut is scheduled for Thursday on Nasdaq.

Last week, Airbnb executives started marketing its offering to mutual funds and hedge funds via the virtual investor roadshow. The company’s initial valuation target was already higher than expected, the Wall Street Journal reported.

December is typically a quiet time in the IPO market. But not this year. Food-delivery company DoorDash, video game firm Roblox; and ContextLogic, which operates online retailer Wish, are also expected to jump on the initial public offering wagon this month. [WSJ] — Akiko Matsuda

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