Airbnb files to go public
Airbnb hasannouncedthat it has filed the documents necessary to begin its initial public offering.
The company has not yet decided the details such as share price, or the number of shares that will be offered, but the news represents another key twenty-first century tech success story going public.
“The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions,” read the announcement.
Airbnb is not obliged to disclose specific financial information at this stage but the move comes after itlaid off nearly 2,000 employeesin May and in Julystopped anyone under 25with fewer than three positive reviews from renting entire homes to crack down on unauthorised house parties.
Airbnb will have taken a massive hit during the coronavirus pandemic as the world stopped travelling. The news of its impending IPO could make or break its fortunes, but it is a company that until recently was an unbridled success.
Author: Henry Burrell, Contributor
Previously Tech Advisor’s Phones Editor, Henry covers and reviews every smartphone worth knowing about. He spends a lot of time moving between different handsets and shouting at WhatsApp to support multiple devices at once.
