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The
Wall Street Journal stories that the home-sharing firm is planning to file IPO paperwork with the Securities and Exchange Commission later this month and could possibly be publicly listed by the tip of the 12 months. Airbnb did not instantly reply to CNN Business’ request for remark.
Morgan Stanley (MS) and
Goldman Sachs (GS) are backing the providing, the Journal mentioned. It additionally cautioned there’s “no guarantee” that Airbnb will comply with that timeline due to uneven market circumstances.
A filing this 12 months is not a complete shock as a result of the corporate was aiming for a 2020 public debut, in accordance to earlier
a number of stories. However, the downturn in journey sparked by the worldwide coronavirus pandemic probably derailed these plans. Business has rebounded from the spring’s nadir — Airbnb recorded a surge in bookings round Memorial Day.
CEO Brian Chesky
instructed Bloomberg in June that he is observed vacationers are preferring to stick to drivable home locations inside 200 miles of their residence. International journey restrictions have halted many holidays. He expects this 12 months’s income to be half of what it was final 12 months.
Also in June, Chesky instructed CNN’s Poppy Harlow that Airbnb’s anticipated inventory market debut might nonetheless occur this 12 months.
“It’s not off the table, but we’re definitely not committing to anything right now,” Chesky mentioned. “We’re going to keep our options open.”
The Journal additionally mentioned Airbnb’s valuation has been lowered to $18 billion. It was beforehand valued at
$35 billion final 12 months. In April, the corporate obtained a
$1 billion mortgage from traders to climate the pandemic.
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