AirBnb to go public in 2020
AirBnb Inc, the company that lets users rent out their own rooms to travelers, plans to go public in 2020.
The company has hinted at an IPO since 2015, and on Thursday put out a single-sentence press release making its intentions known.
The group, founded by a pair of roommates in 2008, has grown massively since its launch. The most recent public valuation estimates its worth at $38 billion, according to a report from Vox Media’s Recode, and on Wednesday, Reuters reported that AirBnb claimed its second-quarter revenue topped $1 billion.
A pattern of growth
As it has gotten closer to going public, AirBnb has not been bashful in growing by acquisition.
The company has made 21 acquisitions since its launch in 2007 and 2019 has moved to branch out beyond traditional overnight stays.
READ: WeWork owner pushes back IPO amid investors concerns over governance
In January, the company bought Denmark startup Gaest, which lets people book workspace for hours or days at a time, and in August, it purchased Urbandoor, a platform that offers longer stays to corporate clients.
The goal there, according to a report from TechCrunch, is to bolster its AirBnb for Work offerings while also potentially targeting an end-around against regulation regarding what counts as a hotel.
The company also moved to acquire last-minute booking site HotelTonight.
If AirBnb does go public at roughly $38 billion, it would beat out competitors such as Expedia Group Inc’s (NASDAQ:EXPE) $28 billion valuation and Hilton Worldwide Holdings Inc‘s (NYSE:HLT) $25 billion but come up short of Mariott International Inc’s (NASDAQ:MAR) $43 billion and Booking Holdings Inc‘s (NASDAQ:BKNG) $80 billion, according to the Recode report.
What will 2020 bring?
The 2020 move would follow a year filled with high-powered tech IPOs that didn’t always go according to plan.
Uber Technologies Inc (NYSE:UBER), despite being the biggest tech IPO ever and achieving a valuation of $82.4 billion, is trading below its IPO price, as is rival Lyft (NASDAQ:LYFT), which has seen its share price severely wounded since its debut in March.
Earlier this week, WeWork owner The We Company opted to delay going public after its valuation cratered in recent months.
Bright spots among the unicorn tech IPOs include Pinterest Inc (NYSE:PINS) and Zoom Video Communications Inc (NASDAQ:ZM), the latter of which is trading at more than double its IPO price.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/903091/airbnb-to-go-public-in-2020-903091.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).