Airbnb hosts see windfall from wild IPO gains

Airbnb hosts who were allowed to invest in the home-sharing firm’s $3.5 billion initial public offering (IPO) more than doubled their money in a few hours on Thursday, a windfall that otherwise would only have been reaped by Wall Street’s elite.

While the vast majority of the newly issued shares went to big mutual funds and other institutional investors, Airbnb reserved $238 million worth of stock for its hosts, according to company filings.

These shares had a remarkable run after pricing at $68 in the IPO on Wednesday. They ended their first day of trading on Thursday up 112.8% at $144.71.

“It was a good move for Airbnb, as it made hosts feel appreciated for their involvement on the platform,” said Jenn Schreck, a film industry worker and Airbnb host in Atlanta, Georgia.