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  HOME | Business & Economy (Click here for more)

Airbnb Announces That It Plans to Go Public in 2020

NEW YORK – International apartment rental company Airbnb announced Thursday that it plans to go public in 2020.

In a brief statement, the firm based in San Francisco, United States, declared its intentions after months of rumors about the possibility, which generated expectations in a year of sound stock market debuts.

“Airbnb, Inc. announced today that it expects to become a publicly-traded company during 2020,” the statement on its website said on Thursday.

Airbnb has been valued at $31 billion, according to private firms and is considered a “unicorn,” a company that has exceeded $1 billion before going public.

The company issued a statement addressed to its partners where it was revealed that in the second quarter of 2019 it obtained substantially more than $1 billion in revenue, the second period of its history that exceeded that figure.

Founded in 2008, Airbnb connects “hosts” who rent their house, or one or more rooms in it, to guests from anywhere in the world.

Its hosts have earned more than $80 billion thanks to the site, the company said.

The firm announced that it has more than seven million enlisted spaces in around 100,000 cities across the world, and that in 2018 alone it generated a direct economic impact of about $100 billion in around 30 countries.

It also said that this weekend it will launch a multi-million dollar marketing campaign to celebrate the hosts and promote the benefits of hosting markets in the US with television, digital and physical adverts.

The growth of Airbnb has occurred in parallel to a great controversy due to the impact it has on the prices of local housing in especially tourist cities whose governments have tried to regulate its scope, as has been the case in New York and Barcelona.

This year the biggest batch of technology companies have gone public since 1999, with prominent firms including Uber, Lyft, Pinterest and Slack, which have been followed with interest for their status as “unicorns” and their economic viability.

 

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