(Bloomberg) -- Airbnb Inc. is planning to increase the price range of its initial public offering, according to people familiar with the matter, pushing its potential valuation to as much as $42 billion.

The San Francisco-based company now plans to offer its shares for $56 to $60 apiece, up from a previous price range of $44 to $50 each, said the people, who asked not to be identified as the details aren’t public. That would boost Airbnb’s fully diluted valuation from $35 billion at the top of the earlier range to $42 billion.

A spokesman for Airbnb declined to comment. The Wall Street Journal earlier reported details of the increased price range.

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