Airbnb, a home rental company, may make its initial public offering (IPO) registration public by next week. A report said the move will place the San Francisco-based company on track for stock market debut on the NASDAQ in December.
The company was aiming at 3 billion dollars while hoping to secure a valuation of more than 30 billion dollars in the IPO. Through Silver Lake and Sixth Street Partners, Airbnb secured emergency funding from investors during the first wave of the pandemic.
Due to the Coronavirus pandemic, the company got a booking for more than 1 million nights in a single day since March 3. The US presidency is hanging on a few key states now, and the country reported more than 100,000 infections for the second day in a row.
The US election has declined the uncertainty for IPO hopefully this week, and a partisan government may not raise taxes due to the stock market rally.
In October, Airbnb said, “It is creating an endowment fund to help financially support its hosts.”