Airbnb to reveal its financials in a few days ahead of IPO

November 07, 2020
Airbnb is opening its books as soon as next Thursday before a much-anticipated initial public offering, according to people with knowledge of the problem.

The home-rental start-up, which said in August it filed confidentially for an inventory with the united states Securities and Exchange Commission, will show the general public the listing documents and its financial information for the first time as it seeks to woo investors. Airbnb is looking to raise up to $3 billion within an IPO before year end, Bloomberg has reported. Timing of the IPO filing could still change, said the people, who declined to be named discussing personal information.

Airbnb’s listing will come in a good window for public debuts during an eventful year. Covid-19 has led companies to believe twice before tapping the marketplace, as the holiday calendar in the rest of the entire year means you will find a shorter timeframe to get deals done.

A representative for Airbnb declined to comment. Reuters earlier reported on the filing coming in a few days.

While Airbnb have been sending incremental updates to the market signaling its debut is along the way, such as for example announcing that it has chosen Nasdaq Global Select Market to host its listing, the general public filing will serve as the key milestone. It'll be allowed to begin taking orders for shares from investors 15 days following the documents are available.

The San Francisco-based company was valued at $18bn in April when it raised $2bn with debt from investors at the depth of the pandemic. That was a substantial drop from its earlier peak valuation of $31bn in a 2017 fundraising round.

A quicker-than-expected rebound from the pandemic has taken the company’s valuation back again to $22bn at end of September, predicated on the worthiness of its common shares at a recently available stock split, Bloomberg News reported.