Airbnb announced on Thursday that it plans to go public in 2020. The startup did not specify a timeline beyond "in 2020."
Airbnb has not clarified whether it has confidentially filed S-1 IPO papers.
The start-up of home sharing rentals was last valued at $ 31 billion in September 2017, according to PitchBook.
Airbnb has teased potential IPO plans as late as March this year, with founder Nathan Blecharczyk stating that the company "had not decided whether we would be released in 2019."
"We have already said that we are taking the steps to be ready to go public in 2019. That does not mean we will go public in 201
A number of startups have gone public in 2019 to mixed results. Uber and Lyft went public earlier this year, and both companies have spent most of their time shopping during what they opened. WeWork's IPO plans – which were recently postponed until at least October – were traced shortly after its start-up published its S-1 papers, which raised questions about the company's CEO, governance, spiraling losses and unclear path to profitability.
Tech Startup Zoom, Slack, PagerDuty, CloudFlare and Pinterest went public in 2019 and are currently trading above the IPO.
Wall's initial expectation of the first public offering for Airbnb was highly anticipated. The company had sales of more than $ 1 billion in the third quarter of 2018, according to TechCrunch. In November, former Amazon Vice President Dave Stephenson joined Airbnb, feeling the market's hope that the company was preparing to go public.
In March, Airbnb co-founder Nathan Blecharczyk doubted whether the company would soon be publicized, but had suggested it was taking steps toward an initial public offering.
Airbnb has already made CEO Brian Chesky one of the richest technological founders in America, and the company's origin story is an important story of success to success in Silicon Valley.
Chesky, a 37-year-old former bodybuilder, founded the company with two former roommates in August 2008, who started renting air mattresses in a San Francisco room. The company struggled with investor support to begin with, but it fetched a $ 600,000 seed investment in 2009 and growth rapidly.
In the years that followed, Airbnb drew venture capital investment from industry heavyweights. The third VC round in 2011 raised $ 112 million from investors including Crunchfund, General Catalyst and Jeff Bezos & # 39; venture capital group worth $ 1.3 billion. It raised a further $ 1.6 billion in venture capital in 2015 and $ 1 billion in 2017, and has collected a total of $ 4.4 billion to date, according to PitchBook.
The company has recently branched out beyond its primary business model. In November, it announced Backyard, an initiative that will explore building new homes specifically designed to accommodate short-term rentals. The backyard was slated to test prototypes in late 2019, according to CNBC.