Airbnb is reportedly close to filing to go public, marking a surprise turnaround for the company that recently cut a quarter of its workforce during the pandemic
The Wall Street Journal reports that the home-sharing company is planning to file IPO paperwork with the Securities and Exchange Commission later this month and could be publicly listed by the end of the year. Airbnb didn't immediately respond to CNN Business' request for comment.Morgan Stanley and Goldman Sachs are backing the offering, the Journal said. It also cautioned there's"no guarantee" that Airbnb will follow that timeline because of choppy market conditions.
Business has rebounded from the spring's nadir -- Airbnb recorded a surge in bookings around Memorial Day. CEO Brian Chesky told Bloomberg in June that he's noticed travelers are preferring to stick to drivable domestic destinations within 200 miles of their home. International travel restrictions have halted many vacations. He expects this year's revenue to be half of what it was last year.
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