“The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions,” Airbnb added.
Reuters reported in October that Airbnb was set to hire Morgan Stanley and Goldman Sachs as co-senior advisers for its IPO, after the company announced its intention to go public in 2020.
The company plans to go public at a time when its core home rental business has been hit hard by the COVID-19 pandemic, which has forced millions of people to postpone travel plans.
The collapse of its core home rental business prompted Airbnb to suspend its marketing activities for the year and cut its workforce by around 25%.
However, in a sign of a rapid recovery, the San Francisco-based startup said in July that customers had booked more than a million nights in a single day for the first time since March 3.
Airbnb’s decision to go public also comes at a time when U.S. financial markets are in the midst of a stunning recovery, with 2020 already being one of the best years for public market debuts in decades.
In April, the company raised $ 2 billion in two rounds of debt from investors.
One of the funding rounds included exercisable warrants worth $ 18 billion, well below Airbnb’s $ 26 billion cited as an internal valuation in early March.