Airbnb soars 115% in trading debut as valuation pushes past $100 billion

Airbnb soars 115% in trading debut as valuation pushes past $100 billion

Airbnb Founders, Chief Product Officer Joe Gebbia, CTO Nathan Blecharczyk and CEO Brian Chesky speak onstage during the "Introducing Trips" Reveal at Airbnb Open LA on November 17, 2016 in Los Angeles, California.

Mike Windle/Getty Images for Airbnb

Airbnb soared 115% at the open in its trading debut on Thursday, giving the peer-to-peer lodging service a market valuation of more than $100 billion.Airbnb raised $3.5 billion in funds when it priced its IPO at $68 per share, giving it an initial market valuation of $47 billion.An IPO frenzy has quickly materialized in the fourth quarter of 2020, given the eye-popping surge in recent trading debuts for DoorDash and C3.ai. Watch Airbnb trade live here.

Airbnb soared 115% at the open in its trading debut on Thursday, giving the home sharing service a market valuation of more than $100 billion.

The stock opened at $146, and hit an intraday high of $165, representing a gain of 143% from its IPO price of $68.

That makes Airbnb more valuable than the seven largest US hotel chains combined, including Marriot, Hilton, and Hyatt. Marriot International is worth $41 billion, Hilton Worldwide is worth $29 billion, and Hyatt is worth $7 billion.

Smaller hotel names Choice Hotels, Wyndham Hotels and