The Wall Street Journal reports that the company that shares the home is planning to submit IPO paperwork to the Securities and Exchange Commission later this month and could be made public at the end of the year. Airbnb did not immediately respond to a request for comment from CNN Business.
Morgan Stanley (MS) en Goldman Sachs (GS) support the offer, the Journal said. It also warned that there is “no guarantee” that Airbnb will follow that timeline due to snoring market conditions.
A submission this year is no total surprise, as the company was aiming for a public debut in 2020, according to previous multiple reports. However, the decline in travel, fueled by the global coronavirus pandemic, may have undermined the plans. Business has returned from spring nadir – Airbnb recorded a rise in bookings around Memorial Day.
CEO Brian Chesky told Bloomberg in June that he notices that travelers keep preferring steerable domestic destinations within 200 miles of their home. International travel restrictions have stopped many vacationers. He expects this year’s revenue to be half of what it was last year.
Also in June, Chesky told Poppy Harlow of CNN that Airbnb’s expected debut of the stock market could still happen this year.
“It’s not off the table, but we’re not really doing anything about it right now,” Chesky said. “We will keep our options open.”
The Journal also said that Airbnb’s rating has been reduced to $ 18 billion. It was previously valued at $ 35 billion last year. In April, the company received a $ 1 billion loan from investors to warm up the pandemic.
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