Airbnb has filed confidential plans with the US Securities and Exchange Commission to go public, despite the coronavirus pandemic obliterating the travel industry.
Details were sketchy as the initial public offering (IPO) filing was confidential.
May saw Airbnb laid off around 1,900 employees, 25% of its workforce, and cut its $800 million marketing budget. Its valuation was cut from $31 billion by around half, but it has started its recovery with its hosts in rural areas in the US earning more than $200 million in June, up 25% year-on-year.
Airbnb’s IPO follows several other high-profile tech companies including Uber and Lyft having disappointing public offerings.