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Airbnb rockets above $100B valuation in record IPO listing

By Spencer Neale
Published December 10, 2020 11:33pm ET
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Airbnb rockets above $100B valuation in record IPO listing
FILE - In this Jan. 20, 2015, file photo, supporters of Airbnb hold a rally outside City Hall in New York. The New York state Senate has cleared a bill that would ban companies like Airbnb from advertising apartments from short-term rentals in New York. | (AP Photo/Bebeto Matthews, File)

Early investors in the home rental app Airbnb were paid off handsomely on Thursday after the company listed at a record-setting valuation in a year characterized by eye-watering valuations for tech-based companies.

Shares of Airbnb soared on the first day of trading, with investors and speculators pushing the valuation of the tech company past $100 billion to make it the largest initial public offering in 2020 in the United States.

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