AirBNB said on Thursday that it plans to go public in 2020, a long-awaited move by the home-sharing company, which is both loved and revamped for the disintegration of the hotel business.
AirBNB revealed the news in a brief statement. It did not provide a target date for the initial public offering or why it said it was correct. According to Renaissance Capital, Airbnb was valued at $ 31 billion (about Rs 2,20,000 crore) last year, which research on IPOs.
San Francisco-based Airbnb was launched in 2008. Co-founders Brian Chesky and Joe Gabia needed some extra cash, so they put three air mattresses on the floor of their apartment and promised a place to sleep and have a free breakfast. He named his new venture AirBed and Breakfast.
Since then, Airbnb has evolved into one of the world’s largest home-sharing platforms, rivaled only by Booking.com. According to the company, six guests check into an AirBNB every six months. Airbnb has more than 7 million listings in 100,000 cities worldwide. There are more than 1,000 AirBnB listings in approximately 1,000 cities. In 2011, only 12 cities did.
“If nothing else, it puts a real damper on an IPO when you’re outlawed in a city you’re going to go public with,” Tusk said.
Tusk said investors would also find it easier to buy shares in a disruptive and logically complex company. But in some ways, he said, Airbnb has gone further than Uber or WeWork in proving that it can succeed.
“They are already preparing the changes they need to make,” he said.