Airbnb Suitor Makes His Case as an Antidote to Market Volatility for a Pending IPO
Skift Take
Message delivered: If Airbnb is concerned about the market's rollercoaster ride and the timing of its going public, then Bill Ackman's Pershing — and other special purpose acquisition companies — could take a little of the anxiety out of the process.
With the Nasdaq rocking and rolling since Wednesday and many tech stocks getting pummeled, Airbnb suitor Bill Ackman of Pershing Square Capital Management preached the stability, and the $5 billion cash injection, that his special purpose acquisition company can offer.
"In this market our expectation was volatility to come, and certainty and a $5 billion injection of cash is something I wouldn't walk away so quickly from," Ackman, the founder of Pershing Square Capital Management, which has a more than 4 percent stake in Hi
