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.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. 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.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
