In the first half of this year, with its business decimated by the pandemic, Airbnb cut a quarter of its workforce and reportedly slashed its valuation as part of a deal to secure more financing.
Now, following a remarkable comeback, the home-sharing company is set to make its long-awaited Wall Street debut just as the pandemic worsens and once again throws the state of the travel industry into question.
Airbnb is poised to begin trading on the Nasdaq on Thursday under the stock ticker “ABNB. ” The company priced its initial public offering at $68 a share on Wednesday, valuing the company at $47 billion.
Airbnb saw improvement in bookings the following months, driven by those using its platform for long-term stays as well as domestic and short-distance travel.
