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Airbnb planning 2020 IPO
Posted on Thursday, 19 September 2019 15:46
Online lodging reservation platform operator Airbnb has said it intends to float on a stock exchange in 2020. However, the company stopped short of giving any more concrete details, such as the stock exchange it plans to list on or how much it hopes to raise from the initial public offering (IPO). A listing of the business was first reported back in February 2017, when Tech Crunch reported that a flotation was distinct possibility in the future, given that the firm was then most likely too expensive to be a candidate for acquisition. The report stated that an IPO was its initial goal. Back in April, chief executive Brian Chesky said the firm would ready to go public later this year. Airbnb was founded in 2008 and now enables users to book accommodation at more than 7.00 million locations spanning over 100,000 cities and 191 countries. The company has offices in 34 cities worldwide and its average nightly customer base numbers in excess of 2.00 million people. Zephyr, the M&A database published by Bureau van Dijk, shows that the largest IPO to have been announced worldwide since the beginning of 2019 also involved a tech company as ride-hailing platform operator Uber Technologies listed on the New York Stock Exchange. That deal closed in May and saw the company raise USD 8.10 billion in the process of floating. This was followed by the recently announced IPO by Budweiser Brewing Company APAC; the firm plans to list on the Hong Kong Stock Exchange and hopes to generate proceeds of USD 4.84 billion. Other companies to have announced high value flotations this year include US pharmaceutical chemicals maker Avantor, online mobile ridesharing marketplace operator Lyft and Italian enterprise banking services provider Nexi. © Zephus Ltd