Airbnb is steps away from becoming a public company
As it is well-known, the pandemic has affected the travel industry, causing significant damages. But companies found the strength to overcome setbacks and go on with their plans. This seems to be the case for Airbnb, which soon plans to go public.
Airbnb – the company which allows people to book short-term locations and experiences filed for its long-expected IPO. According to its filing, the company that offers rentals in locations is looking to raise at least $1 billion.
In the past quarter, Airbnb reported revenues of $1.34 billion, and a net income of $219 million. The rebound was possible due to the surge in demand for rentals in rural areas as people fled the cities. Airbnb has raised a total of $6.4B in funding over 23 rounds. Their latest funding was raised on Jun 3, 2020 from a Secondary Market round. Airbnb is funded by 67 investors, with Sequoia Capital, Sixth Street, Silver Lake, Fidelity and BlackRock amongst the most notable ones.
The company plans to list its shares on NASDAQ under the ticker symbol ABNB. Goldman Sachs and Morgan Stanley will act as main underwriters, while Wells Fargo, Citigroup and Bank of America are some of the co-bookrunners.
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Sources: cnbc.com, sec.gov.com, crunchbase.com