Latham-Led Airbnb Launches Long-Awaited $2.4B IPO

Law360 (December 1, 2020, 9:42 AM EST) -- Home-rental giant Airbnb on Tuesday launched an estimated $2.4 billion initial public offering, joining a blitz of several large companies going public just before the year ends, guided by Latham & Watkins LLP and underwriters counsel Simpson Thacher & Bartlett LLP.

Airbnb told regulators on Tuesday that it plans to offer 51.9 million shares at between $44 and $50, raising $2.4 billion at midpoint and valuing the company at more than $30 billion. Based on that projection, Airbnb's offering would be among the largest U.S. IPOs in 2020 by an operating company. Database software firm Snowflake Inc. currently holds that distinction after raising $3.4...

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