Airbnb plans to IPO in December and will seek to raise about $3 billion, report says

• Airbnb aims to IPO in December and will seek to raise about $3 billion, Reuters reported Friday.
• The debut could value the company at more than $30 billion, sources told Reuters.
• Airbnb's fundraising target establishes the upcoming offering as one of the biggest of the year alongside Snowflake and Palantir.
• Visit the Business Insider homepage for more stories.

Airbnb plans to raise roughly $3 billion in an initial public offering slated for December, Reuters reported Friday.

The multibillion-dollar target sets the home rental company up for one of the biggest market debuts of the year, joining Snowflake and Palantir as firms to hold massive IPOs amid the coronavirus pandemic. The offering's timing is still subject to change, sources told Reuters.

The deal could set Airbnb's valuation at more than $30 billion, well above the private-market valuation of $18 billion the company received in April.

Airbnb filed confidentially for an IPO in August with US regulators and aims to make its filing public in November, according to the report.

Now read more markets coverage from Markets Insider and Business Insider:

BANK OF AMERICA: Buy these 29 high-quality value stocks primed to cash in on the economic recovery

Morgan Stanley's wealth-management CIO says tech stocks won't provide a 'port in the storm' of market volatility — and gives her best recommendations for where else investors can go, both short and long term

JPMorgan's quant guru details 2 ways Trump's COVID-19 diagnosis can lift markets