Breaking: Airbnb plans to file to go public by year-end, people familiar with the matter say. The move would mark a surprising rebound for the home-sharing giant.
Airbnb Inc. is close to filing to go public in a move that would underscore a surprising rebound for the home-sharing giant and the IPO market.
The company plans to file IPO paperwork with the Securities and Exchange Commission later this month, laying the groundwork for a potential listing before the end of the year, according to people familiar with the matter. Morgan Stanley has been tapped to lead the offering, with Goldman Sachs Group Inc. also playing a key role, the people said.
There is no guarantee Airbnb will move forward on the expected timeline, in part because of the notorious volatility of the new-issue market. The long-awaited move will bring one of the stalwarts of the sharing economy into the public domain, alongside ride-sharing platforms Uber Technologies Inc. and Lyft Inc., and sets up the next few months to be an especially busy time for big IPOs. Airbnb was recently valued at $18 billion, down from an earlier valuation of $31 billion.
San Francisco-based Airbnb, the largest home-sharing platform in the U.S., joins a rush of companies tapping public investors after the IPO market emerged from a virtual standstill triggered by the coronavirus pandemic. Music label Warner Music Group Corp. and insurance startup Lemonade Inc. staged
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