With SEC filing, Airbnb confirms plans to go public

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Airbnb has filed paperwork with the Securities and Exchange commission for an IPO.
Airbnb has filed paperwork with the Securities and Exchange commission for an IPO.

Airbnb has filed a registration with the Securities and Exchange Commission for an initial public offering, confirming recent reports that the homesharing platform could go public before the end of this year.

The company didn't disclose details on the number of shares to be offered or the price range for the proposed offering.

In a statement, Airbnb said that the "initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions."

After taking a major revenue hit in the wake of the pandemic, Airbnb was forced to lay off 25% of its employees in May and scale back or pause investment in its Hotels and Lux categories, Airbnb Studios content platform and transportation department.

In more recent months, however, the company has reported signs of a relatively strong rebound. On July 3, Airbnb reported it had booked more than one million nights worth of future stays at its listings around the world, which marked the first time booking volume had been that high in a single day since March 3.

Elsewhere the homesharing and alternate-accommodations market appears strong. In both their recent earnings calls, Expedia and Booking Holdings said their vacation-rental divisions had outperformed traditional hotel bookings. 

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