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Airbnb announces plans to go public in 2020

Internet home stay company Airbnb has announced that it plans to make its stock market debut next year but offered few details.

Launched in 2008, the company, which operates in Dubai, announced recently that it had more than $1bn in revenue in Q2 2019, thanks to it successfully disrupting the hotel and travel industry.

However, other highly anticipated Wall Street launches for tech companies, such as the ride-hailing services Uber and Lyft, have seen shares plummet after the start of trading.

The announcement by Airbnb also comes days after the We Company, parent of the office-sharing business WeWork, was forced to delay its initial public offering (IPO) after potential investors questioned a $47bn valuation put on it by its largest investor, SoftBank.

Airbnb did not clarify whether it has confidentially filed its S-1 IPO paperwork, which would include financial information for potential investors to consider. As of 15 September 2019, hosts have earned more than $80bn sharing their homes and spaces on Airbnb, the company reports.

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