Washington, November 6: Airbnb plans to file for its more than $30 billion IPO as early as next week despite pandemic headwinds, according to a Reuters report The US-based vacation rental company will make its initial public offering registration public next week, thus setting it up for a December debut on the stock market.
The company was heavily affected by the pandemic as all travel had come to a halt. However, it staged a strong comeback as economies opened up and customers preferred to rent out homes rather than hotels in order to limit contact with other people. Airbnb to Restrict People Under 25 Years in UK, France And Spain From Renting Entire Homes To Reduce Rowdy Parties And Ensure Safety Amid COVID-19.
The recent market situation has not deterred Airbnb from going public as it did to some who were planning IPOs this year, Mavenir, Caliber Home Loans, and Amerihome. The company planned everything well, which helped them to tide through difficult times with ease. For e.g. Airbnb lined up emergency funding from investors so it could make it through the first wave of the COVID-19 pandemic on a strong footing.
(The above story first appeared on LatestLY on Nov 06, 2020 08:58 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).