Airbnb filed an updated prospectus on Tuesday morning with new details on its much-anticipated initial public offering. The company is aiming to sell $2.8 billion worth of its stock, at $44 to $50 per share, during its IPO — valuing the home rental company anywhere from $30.6 billion to $34.8 billion. Given how tech IPOs have performed so far in 2020, it would not be surprising if the shares exceeded the targeted IPO price on opening day.
Airbnb’s three billionaire founders — Brian Chesky, Nathan Blecharcyzk and Joe Gebbia — will each sell less than 1% of their current stakes at the offering, or about 630,000 shares apiece, worth some $28 million at the low end of the pricing range.
That will leave Chesky, the chief executive officer, with around 11% of the company after the offering, a stake worth at least $3.4 billion at the low end of the IPO pricing. Blecharcyzk, the chief strategy officer, and Gebbia, the chief product officer, meanwhile, will each own just under 10%, stakes worth at least $3.1 billion each.
Read the full profile on Forbes: https://www.forbes.com/sites/angelauyeung/2020/12/01/airbnbs-three-cofounders-worth-over-3-billion-each-at-planned-ipo-price/?sh=4daf35154e0e
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Airbnb’s Three Cofounders Worth Over $3 Billion Each At Planned IPO Price | Forbes