On Wednesday, August 19, 2020 Airbnb said it filed confidentially for an initial public offering with US regulators. The company did not give a time frame for when it may complete its IPO but according to a person familiar with the process is targeting a listing before the end of the year (dependent on market conditions).
Airbnb’s decision to go public came as US stock markets stage a stunning recovery. “We believe that investors are willing to look beyond COVID issues and value companies based upon post-COVID scenarios. It’s a constructive IPO market,” said Kathleen Smith, principal at Renaissance Capital, a provider of institutional research and IPO ETFs.
Morgan Stanley and Goldman Sachs are lead advisers on the IPO.