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Airbnb seeking $2.6 billion in IPO

Dan Primack, author of Pro Rata

Illustration: Sarah Grillo/Axios

Hospitality giant Airbnb on Tuesday set terms for its upcoming IPO, saying it plans to raise up to $2.6 billion.

Big number: The company would have an initial market cap of $28 billion, or an enterprise value of around $32 billion, were it to price shares in the middle of its proposed price range of $44-$50 per share.

Go deeper: Airbnb files for long-awaited IPO

Go deeper

Axios
Jan 13, 2021 - Podcasts

Affirm CEO Max Levchin on today's IPO and the future of fintech

Affirm, a “buy now pay later” company led by PayPal co-founder and former CEO Max Levchin, went public today at a valuation of nearly $15 billion — and then saw its share price more than double.

Axios Re:Cap goes deeper with Levchin, to discuss the IPO, why he believes credit cards are “flawed” and the growing centrality of fintech.

Dan Primack, author of Pro Rata
Jan 14, 2021 - Economy & Business

Petco IPO raises $817 million

Illustration: Aïda Amer/Axios

Petco, a San Diego-based pet supplies and services company owned by CVC Capital Partners and CPPIB, raised $817 million in its IPO.

Why it matters: The company priced above its expected range, $18 vs. $14–$16, reflecting how the public markets just can't get enough of companies that cater to the cuddly fuzzballs.

Go deeper (<1 min. read)Arrow
Marisa Fernandez
Jan 14, 2021 - Health

Drug companies keep raising prices

Illustration: Rebecca Zisser/Axios

More than 100 pharmaceutical companies raised prices on over 600 drugs at the beginning of the new year, according to a new report from the advocacy group Patients for Affordable Drugs.

The big picture: Millions of people have lost their health insurance because of the pandemic, and uninsured patients must often pay the full sticker price for prescription drugs.

Go deeper (<1 min. read)Arrow