PHOTO: Airbnb is going from strength to strength. Photo credit: Getty
Home-rental startup Airbnb plans to list its shares on the Nasdaq, setting the stage for one of 2020’s most high-profile stock market debuts.
Earlier this month, Reuters reported the company was aiming to raise US$3 billion in its IPO, which could give it a valuation of more than US$30 billion, and that it was targeting a listing before the end of the year.
The push to go public and the growth in its potential valuation underscores Airbnb’s dramatic recovery from earlier this year, when it secured emergency funding from investors and the outlook for the travel industry was uncertain.
San Francisco-based Airbnb, which has benefited as travelers shy away from larger hotels and instead prefer to drive to local vacation rentals, said in July that customers had booked more than 1 million nights in a single day for the first time since March 3.
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