Book your room

1 December 2020 By Robert Cyran Follow @rob_cyran

The two are seeking similar IPO valuations: up to $30 bln for the home-sharing app and $27 bln for the delivery firm. That doesn’t compute. Airbnb’s scale and proven cash-generating ability are more appealing. Moreover, the pandemic’s end will boost Airbnb and hurt DoorDash.

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Airbnb said on Dec. 1 it is aiming to sell 51.9 million shares between $44 and $50 each in its upcoming initial public offering. At the top of the range, the company would be valued at $30 billion based on shares outstanding, excluding both the underwriters' option to sell extra stock and additional shares that would be issued if outstanding options and equity awards are taken into account.

On Nov. 30, DoorDash said it planned to sell 33 million shares between $75 and $85 each. At the top of the range, the company would be valued at $27 billion based on shares outstanding, excluding additional shares that would be issued if outstanding options and equity awards are taken into account.

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