Airbnb will get to its long-awaited IPO with a spring in its step
Airbnb filed for an initial public offering on August 19, 2020, after a tumultuous second and third quarter in which the company had its hands full dealing with the fallout of the COVID-19 pandemic, including laying off 25% of employees. The company deciding to go public this year might come as a surprise to many, given that travel is among the hardest-hit sectors of the economy. Airbnb, while not on the public markets, saw its valuation drop from $31 billion (as of its prior funding round in September of 2017) to $18 billion, as part of a $1 billion financing deal in April 2020.
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