Airbnb is reportedly planning to confidentially file its initial public offering paperwork later this month.- The company had previously planned to go public this year, but postponed the effort when the onset of the
coronavirus crisis crushed its business. - Airbnb's business has started to rebound in recent months.
- The company is under pressure to go public this year, because some of the stock options held by some of its earliest employees are set to expire later this year if they aren't exercised.
In the course of a few months, Airbnb's initial public offering plans have gone from completely off the rails to apparently solidly back on track.
The online travel giant plans to confidentially file its
An Airbnb representative declined to comment on the report.
Airbnb had previously been preparing for an IPO this year, but $4 when the onset of the coronavirus pandemic crushed the stock market and shut down travel worldwide, $4. Company CEO Brian Chesky warned that thanks to the epidemic, Airbnb expected its revenue for this year to be $4. To shore up its operations and its cash balance, the company $4 and $4, $4, and $4.
As part of its debt financing, the company agreed to have its $4.
But Airbnb — along with the stock market — has rebounded in recent months as people have started to take vacations to traditional holiday spots near their homes. By late May, the number of vacation rental bookings — Airbnb's core market — $4. Meanwhile, Airbnb reported its customers $4, which marked the first time the company had seen that volume of bookings since March 3. With that kind of wind at his back, Chesky told employees last month that $4.
Still, it remains to be seen just how much of its business has returned and how public investors will value the company. Even before the pandemic, Airbnb was losing significant amounts of money. Last year, $4.
Airbnb is under some pressure to go public this year. Some of its earliest employees hold stock options that will expire later this year if they are not exercised before then. Options generally can't be exercised unless there's a public market for a company's stock.
It's unclear what method Airbnb will use to go public. Prior to the pandemic, the company was widely reported to be considering going out with a direct listing, a method that is less costly but doesn't allow the company using it to raise money. It's possible Airbnb instead will use the traditional IPO path, which will allow the company itself to raise new cash by selling shares to the public.
Got a tip about Airbnb? Contact Troy Wolverton via email at twolverton@businessinsider.com, message him on Twitter $4, or send him a secure message through Signal at 415.515.5594. You can also $4.