Airbnb Inc. is near submitting to go public in a transfer that may underscore a shocking rebound for the home-sharing big and the IPO market.
The corporate plans to file IPO paperwork with the Securities and Trade Fee later this month, laying the groundwork for a possible itemizing earlier than the tip of the 12 months, in keeping with individuals accustomed to the matter. Morgan Stanley MS 2.37% has been tapped to steer the providing, with Goldman Sachs Group Inc. GS 0.80% additionally taking part in a key function, the individuals mentioned.
There isn’t any assure Airbnb will transfer ahead on the anticipated timeline, partially due to the unsure timing of the SEC’s overview course of and since there isn’t a telling whether or not shares will nonetheless be in favor with traders by the point the corporate is able to stage an providing. A list may take totally different varieties: The corporate may pursue a conventional IPO, launch a direct itemizing—through which no cash is raised—or benefit from the newest pattern of merging with a blank-check firm.
Both method, the long-awaited transfer will convey one of many stalwarts of the sharing economic system into the general public area, alongside ride-sharing platforms Uber Technologies Inc. and Lyft Inc., and units up the subsequent few months to be an particularly busy time for large IPOs. Airbnb was just lately valued at $18 billion, down from an earlier valuation of $31 billion.