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Airbnb Confidentially Files For IPO

airbnb aug20 lt

Airbnb said it has confidentially filed papers to go public with the Securities and Exchange Commission.

The number of shares to be offered and the price are not yet determined, the company said.

Before the coronavirus pandemic, the company was originally planning for the Initial Public Offering or IPO in March. However, the pandemic, which badly hit the travel industry, cost the company more than $1 billion in cancellations.

Airbnb's long-awaited IPO is set as the company ravaged by the pandemic, is slowly getting back on its feet.

Last month, it had disclosed that On July 8, guests booked more than 1 million nights' worth stays in a single day, which was the first time since March.

San Francisco-based Airbnb, a market place for renting vacation stays, offers over 7 million accommodations in more than 220 countries.

Airbnb said its IPO would take place after the SEC completes its review, subject to market and other conditions.

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