Airbnb IPO moving forward in 2020 despite COVID-19 pandemic

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Airbnb intends to move forward with a mid-December initial public offering (IPO) after months of uncertainties as to whether its market debut could be expected in 2020 with the onset of the COVID-19 pandemic.

Airbnb has flirted with the idea of going public for a few years, but it looks like tumultuous 2020 will be the stage for the company’s debut as it submitted its S-1 form with the Securities and Exchange Commission (SEC).

Currently, Airbnb boasts over four million hosts and nearly 7.4 million home listings, pointing to its supremacy in the global travel rental game.

While it is unknown at this point, the Airbnb IPO is expected to generate a $30 billion valuation from its offering, which has since fallen to $18 billion after the COVID-19 pandemic brought global travel to a total standstill, leaving many of the company’s listed properties empty for the time being.

It is quite possible that Airbnb’s valuation will come in lower than previously expected, which was the case for Uber. The ride-sharing company was able to reach a valuation of $76 billion from its IPO, a number under expectations.