Last week we saw one of the most anticipated initial public offerings (IPOs) in recent memory from Airbnb Inc (NASDAQ: ABNB).
Aussie tech investors weren't going to miss out on the opportunity and many were quick to snap up shares in the United States company.
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When did Airbnb IPO?
The world-renowned vacation rental online marketplace group listed on the US-based Nasdaq last Thursday and saw its valuation nearly double in a day, closing just shy of US$100 billion.
The Airbnb share price rocketed to US$146 (A$194) at the open despite ongoing market volatility surrounding COVID-19 concerns and the US election.
This also came despite a difficult year in which the travel industry was forced to a grinding halt as the pandemic took hold and many governments closed their borders. That hasn't slowed down Airbnb nor the IPO market which has been on fire in recent months.
How are Aussie tech investors getting in on the action?
It's not just US-based investors that are getting in on the IPO action. Business Insider has reported huge interest in the Airbnb IPO from Aussie investors wanting to snap up another tech giant.
Stake Global Head of Marketing Bryan Wilmot reported "huge interest in Airbnb" on the Stake platform with investors having "put almost US$5 million through it".
Wilmot said Airbnb had attracted 10 times the trading volume of the recent DoorDash Inc (NYSE: DASH) IPO and 6 times that of fellow travel marketplace Booking Holdings Inc (NASDAQ: BKNG) for the year.
What lies ahead for Airbnb investors?
According to Business Insider, some analysts have concerns over Airbnb's future trajectory. Warwick Business School professor John Colley said there are "significant" risks attached to the lofty valuation after the Airbnb IPO.
However, many are attracted to the stock due to its potential future growth with the company reporting its second-largest ever third-quarter revenue figure.
Foolish takeaway
Aussie tech investors were quick to snap up a chunk of the Airbnb IPO as investors everywhere piled into the stock. With new listings surging in 2020, all eyes will be on new potential investments as we head into 2021.
