Airbnb’s $8 billion loss, $1 billion in debt: Wall Street Journal
AUBURN HILLS, Mich.
— Airbnb Inc., the world’s largest online home rental platform, is looking to raise $8.4 billion from investors after a bruising regulatory fight in which the company sued to protect itself against a lawsuit accusing it of violating state and federal laws by refusing to rent to seniors who are blind or disabled.
The Wall Street journo who helped broker the deal, Robert Shiller, on Wednesday wrote in a blog post that the deal is “likely to be the most important IPO of the year.”
AirBnB Inc., whose market value is valued at about $40 billion, and HomeAway Inc., a home-sharing service, are expected to announce their IPO results later Wednesday, said a person familiar with the matter who asked not to be identified because the matter is private.
The companies said they are raising $1.9 billion through a $1-billion stock offering.
Shiller said he expects the companies to raise between $8 million and $10 million.
I expect this IPO to be a huge catalyst to the broader market,” he wrote.
Shares in Airbnb are up $6.40 in after-hours trading. “
The company’s stock has been down by 50% since last year,” he said.
Shares in Airbnb are up $6.40 in after-hours trading.
AirbnB said it had sold more than 1 million of its 2.6 million properties in the U.S. in the last 12 months, according to the U