America’s vacation rental online company Airbnb, has made its long-awaited stock market debut.
Airbnb began trading on Thursday at $146 per share, more than doubling its IPO price and valuing the company at more than $100 billion.
The rental company’s stock closed the day slightly lower.
The $100 billion market cap represents a huge leap from its previous valuation high of $31bn in a 2017 financing round.
At its current trading valuation, Airbnb is worth more than Uber, and more than Marriott and Hilton combined.
Airbnb’s strong showing is just the latest sign of investor demand in what’s shaping up to be a good week for technology companies going public.
The company, which has 7.4 million listings, wants to add more hosts and properties and expand in markets like India, China and Latin America.
Airbnb initially planned its IPO for the spring but shelved it when the coronavirus pandemic ground global travel to a halt.