IPO Outlook For The Week: Airbnb, DoorDash Lead Highly Anticipated Week

IPO Outlook For The Week: Airbnb, DoorDash Lead Highly Anticipated Week

The highly anticipated debuts of Airbnb and DoorDash are among the seven IPOs that markets could see this coming week.

Airbnb

Vacation rental company Airbnb is scheduled to go public on Thursday, December 10 under the Nasdaq ticker symbol ABNB. The company plans to sell 51.9 million shares at a price point of $44 to $50. The company could be valued at up to $35 billion in its IPO.

Airbnb had 54 million active bookers and 247 million guest arrivals in 2019. Gross booking revenue and company revenue were up 29% and 32%, respectively, year-over-year in fiscal 2019. The company saw gross booking revenue and company revenue fall 39% and 32% year-over-year, respectively, for the first nine months of 2020.

Airbnb saw low bookings in the first half of 2020, but then a recovery in July, August, and September, with night bookings down 28% year-over-year compared to triple digit declines in the earlier 2020 months.

C3.ai Inc

Enterprise artificial intelligence company C3.ai Inc plans to sell 15.5 million shares at a price point of $31 to $34. It will use the NYSE symbol of AI. The IPO is expected for Wednesday, December 9.

The SaaS company says it has partnerships with Microsoft Corporation (MSFT), Amazon.com Inc. (AMZN), IBM (IBM), and Alphabet Inc. (GOOGL). It projects a total addressable market of $271 billion by 2024. C3.ai Inc saw revenue grow 71% year-over-year to $157 million for fiscal 2020. Eighty-six percent of the company’s revenue came from subscriptions.

Certara

This company makes biosimulation software for the drug discovery and development market. Certara has over 1,600 customers in 60 countries and saw revenue grow 27% year-over-year in 2019, to $208.5 million. The company is planning to offer 24.4 million shares at a price point of $19 to $22 when it lists on the Nasdaq under the symbol CERT.

DoorDash

This is one of the companies that has most benefited from the shift to food delivery during the COVID-19 pandemic. 

1 2 3
View single page >> |

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.