Airbnb files for IPO
Home sharing titan Airbnb is moving ahead with its planned IPO despite the travel industry still being pummelled by the Covid-19 pandemic.
Airbnb confirmed it submitted confidential paperwork with the US Securities and Exchange Commission for an initial public offering.
The company says booking volume has started to rebound in the past few weeks, but it goes to market with a much reduced valuation compared to a high of $31 billion last year.
"The travel industry, including Airbnb has been hit hard by Covid-19 and there will continue to be tremendous uncertainty but our booking data shows that travel is beginning to bounce back," it said recently.
Like many of its home sharing and traditional hotel rivals, it has made deep cuts.
It slashed its global workforce by a quarter earlier this year.
Airbnb hasn’t said how many shares will be up for grabs or what valuation it is seeking.
It hasn’t put a timeline on the IPO but hopes a listing will be completed by the end of 2020.
Written by Ray Montgomery, US editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025