Airbnb is going to list its shares on the Nasdaq expecting to raise $3 billion in its IPO. Airbnb can raise $3 billion through sales of shares.The company will be valued at $30 billion and is expected to be On Nasdaq before the end of 2020.
Airbnb’s dramatic recovery has been underscored by its push to public and improvement in its future evaluation. The company secured emergency funding from investors earlier this year whenthere was an uncertainty about the future of the travel industry.
Airbnb which changed the hotel industry by providing cheap rental accommodation said that customer booking exceeds more than 1 million in a single day for the first time since March 3. There is no timeframe given by the company to complete its IPO process.
Earlier this year, Airbnb was approached by the billionaire investor William Ackman about going public through a reverse merger with his blank-check company but Airbnb refused the offer and chose to go public through the traditional way.
Starlink announced its initial price for beta tester through an email invitation. The people who registered themselves on Starlink website received an email revealing monthly subscription and setup cost. The monthly subscription is $99 a month plus $499 for the kit which is easy to install. People in Washington, Wisconsin and Idaho received emails on Monday night to join its “Better Than Nothing Beta” test.
SpaceX is investing $10 billion in satellite broadband internet which is estimated to generate $30 billion annually. There are other companies also investing in satellite internet services such as Amazon in partnership with Bharti group.
The email said that company is trying to lower your initial expectation. The data speed will vary from 50Mb/s to 150Mb/s and there will be some brief periods with no connectivity at all. The beta user can also return the kit if they are not satisfied with the service and can get75% of their money back.
It is noteworthy that the initial price announced by Starlink is
cheaper than its rivals. The ViaSat offers rural internet with speeds of up to
50Mb/s for roughly $170 per month.