Airbnb files confidential paperwork for an IPO

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Airbnb files confidential paperwork for an IPO
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Airbnb files confidential paperwork for an IPO, moving ahead with plans to go public just months after coronavirus upended the travel industry

Airbnb is moving ahead with plans to go public just months after the pandemic upended the travel industry and forced the startup to lay off a quarter of its workforce.

On Wednesday, Airbnb announced it had submitted confidential paperwork with the US Securities and Exchange Commission for an initial public offering.Founded in 2008, Airbnb upended the hotel industry by allowing individuals to rent out rooms in their homes for travelers. It became one of the most valuable private startups in the world, reaching a valuation of $31 billion at one point.

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