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Fortune

Orianna Rosa Royle

The Airbnb IPO was a huge success, but its CEO says it was 'one of the saddest periods' of his life

Airbnb Brian Chesky Barack Obama IPO

(Credit: Philip Pacheco/Bloomberg — Getty Images)

When shares in Airbnb opened at $144.71 on the Nasdaq in December 2020, it marked one of the most successful IPOs in history.

The rental platform’s shares skyrocketed on their first day of trading, rising 113% above the initial public offering price of $68 and the firm’s valuation jumped to around $103 billion, compared to $18 billion after the firm’s last private funding round that April.

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