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Airbnb to confidentially file for IPO in August

Short-term house rental firm Airbnb Inc is shut to confidentially submitting paperwork for an preliminary public providing (IPO) with the U.S. Securities and Exchange Commission later in August, the Wall Street Journal reported on Tuesday.

Airbnb is getting ready to doubtlessly go public earlier than the tip of the 12 months, the report mentioned, citing sources acquainted with the matter.

An Airbnb spokesman declined to remark.

Reuters had reported in October that Airbnb was shut to hiring Morgan Stanley and Goldman Sachs Group Inc as joint lead advisers on its deliberate inventory market flotation.

Airbnb final 12 months introduced plans to turn into a publicly listed firm in 2020, making it one of many greatest names to pursue a inventory market float this 12 months.

The firm’s plans to go public come at a time when its core home-rental enterprise has been hit arduous by the COVID-19 pandemic, which has pressured thousands and thousands of individuals the world over to postpone their journey plans.

Earlier this 12 months, Airbnb raised $1 billion in funding from non-public fairness corporations Silver Lake and Sixth Street Partners.

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