The Takeaway
Markets

What Airbnb and DoorDash Didn’t Teach Us

It is not every day that tech investors are surprised by how the market is valuing tech darlings like Airbnb. But shock was in the air on Thursday, when I began receiving a series of texts from tech investors saying “Wow,” “What’s going on?” and “This is crazy.”

Because while Airbnb certainly has the potential to be an even more massive company, the notion that it would be valued at as much as $106 billion (where it peaked after a big pop on its opening) is staggering. It ended Friday around $90 billion, or $139 a share.

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