"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."
"Growing up, Chesky admits he "desperately wanted to be successful" because he thought it would bring him adoration. Plus, having social worker parents who were by no standards rich, he also thought a large sum of money could "solve every problem.""
"When Chesky moved to Silicon Valley and started his company in 2008 with cofounders Joe Gebbia and Nathan Blecharczyk, he said the trio were like family. But as CEO, Chesky says he felt guilty spending time with them instead of on growing the business. "Whenever I would make time with friends and family, the guilt was I wasn't working on the company," he said."
Airbnb's shares opened at $144.71 on Nasdaq in December 2020, rising 113% above the $68 IPO price and pushing the firm's valuation to about $103 billion, up from $18 billion in April. The debut market capitalization exceeded those of Marriott, Hilton and Hyatt combined. Despite this financial milestone and widespread recognition, the company's CEO experienced profound loneliness and described the period as deeply sad. Childhood beliefs that success and money would bring adoration and solve problems contributed to the disappointment. Early cofounder relationships were close, but CEO guilt over spending time away from work increased isolation.
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