The Wall Street Journal reported today that Airbnb is aiming to sell its shares at above the target range of between $56 and $60 that it had set just earlier this week. By day’s end, shares had closed up 85% from the offering price, to $189.51 a share, giving DoorDash more than a $60 billion valuation.Īirbnb Inc., whose IPO later today is also expected to be one of the year’s largest for the consumer tech sector, is hoping to replicate DoorDash’s success. This morning the shares opened a stunning $182 a share, more than 75% above the median target price.
The food delivery giant on Tuesday raised a massive $3.37 billion through its IPO by selling 33 million shares at $102 apiece, well above the original target range of $90 to $95. Public investors are also holding high expectations for DoorDash Inc., which went public this week as well. It’s another indication that despite the pandemic-hobbled economy, IPOs remain red-hot right now. The financial institutions that underwrote the offering have the option to buy an additional 2.325 million shares at the IPO price in the next 30 days. That’s a big win not only for the company but also for its underwriters. Shares closed the first day of trading at $92.49 apiece, up 120%. As a result, C3.ai, which was poised to kick off its first day as a public firm with a market capitalization of more than $4 billion, is now worth more than $10 billion. The company started trading today on New York Stock Exchange under the ticker symbol “AI,” and shares immediately jumped to $100 a share on the opening, up 138% over the opening price.
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C3.ai Inc., the artificial intelligence software provider led by tech billionaire Tom Siebel, has raised a higher-than-expected $651 million in its initial public offering after selling 15.5 million shares at $42 apiece.
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