Airbnb heads to Wall Street with hefty US$47 billion valuation

HOME-SHARING giant Airbnb was set for its Wall Street debut today with a whopping US$47 billion (RM191 billion) valuation amid a feverish rush for new shares in companies adapting to lifestyle changes imposed by the coronavirus pandemic.

San Francisco-based Airbnb said it would raise some US$3.4 billion in its initial public offering (IPO) by bumping up its share price to US$68 heading into its stock market debut today.