Airbnb filed confidential documents for IPO

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Brian Chesky, PDG d’Airbnb.John van Hasselt | Corbis | Getty Images

Airbnb said on Wednesday it had submitted a proposed registration to the Securities and Exchange Commission for an initial public offering.The company has not disclosed its financial information or specified how many shares will be offered.

The filing comes after a difficult year for Airbnb and the US travel industry.

Airbnb in May laid off nearly 1,900 employees, or about 25% of the company. The company also cut its marketing costs and raised billions of dollars in debt. Many short-term rental web hosts have also complained about late or missing payments from Airbnb.

The coronavirus pandemic has brought the travel industry to a halt, causing an estimated $ 330 billion in revenue loss since early March, according to an Aug. 13 report from the US Travel Association.

However, Airbnb has rebounded from an increase in rentals in rural areas, as residents with means fled from cities affected by the pandemic.

Airbnb was valued at $ 18 billion after its last funding round in April. This was almost half of what the company was worth in 2017.

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