Airbnb Hits $47 Billion Value in IPO, Adding to Record Year (2)

Airbnb Inc. priced its long-awaited initial public offering above a marketed range to raise about $3.5 billion, seizing on investor demand for a home-rental business roaring back from a pandemic-fueled slump.

The company’s IPO came just hours after DoorDash Inc. almost doubled from its listing price in its debut trading session, adding to a flurry of consumer-facing web-based companies going public this month.

Airbnb and its investors sold about 52 million shares Wednesday for $68 each after marketing them for $56 to $60 apiece, it said in a statement confirming an earlier Bloomberg report. At that price, Airbnb has a ...