Airbnb Plans An IPO By The End Of 2020
Airbnb, the operator of the eponymous online home rental service, is planning an initial public offering (IPO) for a listing later this year in New York.
According to WSJ, Airbnb is going to notify the Federal Securities and Exchange Commission of its decision at the end of August. The company expects to begin trading its shares on the New York Stock Exchange by the end of 2020. Goldman Sachs and Morgan Stanley would organize the IPO.
According to the newspaper, recently, the cost of Airbnb was estimated at $18 billion. The figure fell from $31 billion due to the damage caused to the company by the consequences of the coronavirus pandemic. Revenue for the online rental service operator reached $4.8 billion last year. However, for the first nine months of 2019, the company suffered a net loss, although it achieved a net profit of $200 million for the same period in 2018.
The newspaper recalls that in April, Airbnb Executive Director Brian Chesky, in an interview, announced his intention to notify the US securities and exchange Commission of plans for an IPO in March.