Airbnb Seeks to Raise $3 Billion in December IPO, Reuters Says
Airbnb Inc. is aiming to raise about $3 billion in an initial public offering targeted for December, Reuters reported.
(Bloomberg) -- Airbnb Inc. is aiming to raise about $3 billion in an initial public offering targeted for December, Reuters reported Friday.
The home-sharing startup is one of the most highly anticipated IPOs of the year and it almost didn’t happen after the Covid-19 pandemic sapped global travel. But San Francisco-based Airbnb has bounced back quicker than it expected, as people sought long-term, rural rentals to escape pandemic hot spots and take advantage of work-from-home regulations.
Airbnb took the first step toward a market listing in August when it filed initial paperwork confidentially with the Securities and Exchange Commission. The company plans to make its filing publicly available in November after the U.S presidential election and is targeting an IPO in December, Reuters reported Friday, citing unnamed people familiar with the plans. The timing could change, depending on market conditions, and particularly volatility around the election, Reuters said. Airbnb declined to comment.
The rebound in Airbnb’s fortunes could also help boost its public valuation. It could be worth more than $30 billion, Reuters reported. That would be a significant increase from the $18 billion Airbnb was valued at in April when it raised $2 billion in debt from investors at the depth of the pandemic.
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