You didn’t think Airbnb was going to let a little something like unmitigated disruption to the global travel industry stop it from going public, did you?
On the contrary: The home-sharing startup is quietly moving forward with its plans to file for an IPO, The Wall Street Journal reports, and it could be a publicly traded company by the end of 2020.
Before the coronavirus pandemic, Airbnb was widely expected to go public this year. The company at its peak was reportedly valued at $31 billion, and unlike many cash-burning tech startups that have come before it, Airbnb proved it could turn its business model into real profit.
But as travel plans around the world were dashed by COVID-19, Airbnb’s plans changed too. The company announced a dramatic downsizing in early May, laying off about 25% of its staff and refocusing its efforts on its core home-sharing product.