Airbnb plans to file for its more than $30 billion IPO as early as next week despite pandemic headwinds, according to report
- Airbnb is forging ahead with its IPO this year, and plans to make IPO documents public as soon as next week, Reuters reported Thursday.
- The home rental company will likely make its stock market debut in December according to the report, despite the ongoing concern of the COVID-19 pandemic.
- The IPO could set a $30 billion valuation for the company and raise $3 billion in proceeds, Reuters said.
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Airbnb is planning to go public by the end of the year despite an ongoing rise in daily COVID-19 cases, according to a Reuters report.
The US-based vacation rental company will make its initial public offering registration public next week, setting it up for a December debut on the stock market, Reuters said Thursday.
Airbnb was initially reeling from the COVID-19 pandemic in the Spring as nearly all travel came to a halt, but has staged a strong comeback as customers preferred to rent out homes rather than hotel rooms in order to limit contact with people.
In April, the company lined up emergency funding from investors so it could make it through the first wave of the COVID-19 pandemic on strong footing. By July, the company said its customers had hit more than one million in daily bookings, hitting pre-pandemic levels not seen since early March.
Recent volatility in the stock market hasn't scared away Airbnb like it has other companies that were planning IPOs this year, including Mavenir, Caliber Home Loans, and Amerihome.
Airbnb will likely raise proceeds of $3 billion in a valuation that could reach $30 billion, Reuters reported. An investor roadshow will likely commence in December, followed by plans to set an IPO price range and eventual public trading.