KATE THOMPSON DAVY: Airbnb IPO is a big bet on a rosier travel future
Airbnb relies on people leaving home behind, not seeking services to deliver goods in lockdown safety
Airbnb, the darling of the software-as-a-service class of start-ups, will begin trading on the Nasdaq in the next few weeks, under the ticker ABNB. The initial public offering (IPO) is expected to raise $3bn.
It will be hoping to duplicate the success of cloud data platform provider Snowflake, which listed in September, selling 28-million shares and bringing in $3.36bn, making it the largest software IPO yet. At the time of writing Snowflake was sitting pretty on a market cap of about $77bn...