AirBnB to start trading after DoorDash blowout

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However, most eyes are likely to be on the performance of AirBnB, which priced its IPO last night at $68 a share, more than 12% above the top end of a marketing range that had already been raised once.

That puts the total IPO proceeds at $3.7 billion and values the rental startup at $47 billion.

DoorDash stock had closed yesterday, up 86% on its market debut, after a similarly hectic marketing period.

The strong performance of both IPOs is, in a way, paradoxical. DoorDash is a bet on the pandemic having disrupted and accelerated the development of the restaurant/meal delivery business forever. AirBnB is by contrast a bet on the travel market rebounding strongly from an episode that will leave only temporary scars.  There probably are ways for both to be simultaneously possible, but still.