Airbnb IPO open for USA now. The technology company is initiating the procedures for the process, assuring yesterday in a statement, according to Reuters, that it has already submitted its application for an IPO (public offering for sale) with the Securities and Exchange Commission (SEC). Airbnb is currently one of the few techs not yet publicly traded , so the move will add it to the vast list.
The company is therefore preparing to go public after a few very tough months in terms of income , having lowered its reserves by up to 70% compared to 2019 in the middle of this year.
An Airbnb IPO at a risky time
Airbnb goes public at a delicate moment. Countries like Amsterdam have banned vacation rentals and even the CEO of the company stated that “travel as we knew it is over . ” Just over two months ago, the company laid off more than 2,000 employees, representing 25% of the workforce, although no further cuts were promised apart from those already made .
Airbnb fell in bookings by up to 70% in the month of May, a figure that has been minimizing to 30%
Airbnb IPO
These circumstances have led to a drop in revenues of 335 million dollars in the second quarter of the year, according to Bloomberg sources , representing a drop of 67% compared to the previous year. Despite this, as we read in Expansion , the company began to recover in June , with reserves 30% lower than the previous year, a figure quite far from the 70% that was registered in May, at the peak of its peak. of the pandemic.
It is estimated that, in April, the value of Airbnb was around 18,000 million dollars, although the figure for which it will start trading on its IPO is not known. This IPO movement was planned by Airbnb to start on March 31, although the COVID situation has slowed everything down.