Airbnb could file to go public this month, claims WSJ

The American vacation rental company first made this announcement back in 2019.

Airbnb to go public this month
https://www.flickr.com/photos/81807328@N05/

Airbnb could go public this month and file an IPO before the end of the year, according to the reports from the Wall Street Journal,

Morgan Stanley and Goldman are helping the company with the IPO process, the Journal states. This news of the company going public is huge.

The Wall Street Journal
https://www.flickr.com/photos/31018417@N05/

However, the company announced in 2019 to go public in 2020. The company was considering the direct listing even before the arrival of COVID-19, crashing the global travel market, and Airbnb financial health.

Airbnb has declined to comment on its IPO plans.

As the travelers stayed home due to COVID-19, the company was forced to trim down its staff and take on billions in capital. However, since that downfall, the company has been progressing and its overall financial health is improving.

In June, the company stated that it had booked too many nights for travel. The number was more Airbnb listing than the same time in 2019. The company also stated that it saw year-over-year growth in the gross booking value.

In July, the company stated that the users had booked over 1 million nights of future stays at Airbnb listings in a single day. This shows that the company has been progressing. Moreover, the company has booked more travelers for the future flights.

Precisely, how much Airbnb has been successful isn’t clear. However, the cost basis during the layoffs could lower its overall revenue base that it needs to recover to something profitable, a traditional IPO benchmark.

Many local travel companies are taking off, so improving Airbnb’s occupancy rates aren’t indicative of its health. Still, people are thrilled to read the Airbnb S-1. People want to know what happened to the unicorn during the COVID-19 pandemic.

By announcing IPO, Airbnb has joined the likes of Palantir, DoorDash, and Coinbase. We will keep you updated on the story.

Have a tip we should know? tips@rhd.news

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