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Published on Monday, October 5, 2020

Airbnb hopes to raise USD3 billion in IPO






Airbnb remains on track to file for an IPO before the end of the year.


According to Reuters, the home sharing giant will file with the US Securities and Exchange Commission after the US election.


It plans to raise about $3 billion.


According to people familiar with the matter, the IPO is on track for a December listing, although that could still change.


Airbnb filed a draft registration to the SEC in August.


As a business reliant on travel, it's not the ideal time to list but the company seems undaunted.


Earlier this year it said it was laying off 25% of the workforce and predicts full-year revenue will be down by at least half compared to 2019.


However, it has reported a strong rebound in many non-urban markets.


Subject to market conditions at the time, the IPO could value the company at about $30 billion, the people said.


 


Written by Ray Montgomery, US Editor

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