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IPO

Reuters | Equities.com |

Airbnb Inc is aiming for a valuation of nearly $35 billion in what will be the last blockbuster U.S. IPO of the year, marking a stunning recovery in its fortunes after the home rental firm was ravaged by the COVID-19 pandemic earlier this year.

Founders Brian Chesky, Joe Gebbia and Nathan Blecharczyk will together sell nearly $100 million worth of shares in the company’s Wall Street launch, 13 years after they founded a website in a loft that went on to revolutionize the hotel and holiday home industry.

Airbnb struggled in the immediate aftermath of the pandemic as travel came to a grinding halt. It had to lay off a quarter of its workforce and seek $2 billion in emergency funding from investors, including Silver Lake and Sixth Street Partners.


Reuters | Equities.com |

Home rental startup Airbnb Inc disclosed paperwork for its initial public offering (IPO) on Monday that showed a slowdown in its core business due to the COVID-19 pandemic, even as it prepares for one of the most anticipated stock market debuts in recent years.

The listing is expected in December and would cap a blockbuster year for IPOs as companies capitalize on a stock market rally in the second half of the year, fueled by monetary as well as fiscal stimulus in a bid to blunt the fallout of the pandemic.

Airbnb reported revenue of $2.52 billion for the nine months ended Sept. 30 compared with $3.7 billion a year earlier, according to its S-1 filing. Net losses widened to $697 million, from $323 million a year earlier.


Reuters | Equities.com |

U.S. gaming platform Roblox Corporation said on Monday it has confidentially submitted paperwork with the Securities and Exchange Commission to go public.

Reuters reported earlier this month that Roblox was seeking to go public early next year, a move that the company expects would double its recent valuation of $4 billion.

Roblox did not immediately respond to a Reuters request for comment on whether it would choose the traditional initial public offering or d...