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Home / Business / Airbnb has a plan to securely submit its IPO filing this month

Airbnb has a plan to securely submit its IPO filing this month



Airbnb is planning to submit a confidential filing with the SEC this month to make it public, a source familiar with the matter confirmed to CNBC.

Stocks may start trading later this year. Airbnb declined to comment.

The Wall Street Journal reports on the market launch for the first time.

The company is expected to go public earlier this year, but those plans were postponed due to the Covid-19 pandemic and lay off 25% of its staff, or about 1,900 employees, to cut costs. . At the time, CEO Brian Chesky told employees that the company̵

7;s 2020 revenue would be less than half what the company would earn in 2019.

The pandemic has been a major hurdle for the short-term rental company to get through, as it has devastated the tourism and hospitality industries.

Airbnb’s private valuation dropped to $ 18 billion, down from $ 31 billion when it raised a funding round in 2017. The company also raised $ 1 billion in April in equity. Ownership and debt from Silver Lake and Sixth Street Partners to get through the crisis. It raised an additional $ 1 billion just a week later from Fidelity, T. Rowe Price and Blackrock.


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