Airbnb Submits Draft Paperwork for Long-Rumored IPO

On Wednesday, the vacation web-site Airbnb declared that it submitted a draft registration assertion to the Securities and Trade Fee proposing an preliminary general public offering of its common stock.

What Transpired: Airbnb, after before reviews this thirty day period that it would go forward with an IPO, submitted paperwork with the SEC Wednesday.

Outside the house the filing staying documented, no information was produced on price tag range or shares staying supplied.

Why It is Critical: Airbnb has been rumored to be preparing to go general public for months.

The San Francisco-primarily based company saw a key fall in second-quarter earnings, with income falling sixty seven% 12 months-above-12 months to $335 million in the June-ending quarter, according to Bloomberg.

No disclosures were created Wednesday as to the companies underwriting the IPO. The Wall Road Journal formerly documented that Morgan Stanley and Goldman Sachs Group were probable underwriters.

Airbnb was founded in 2008 and at just one stage had a valuation of above $31 billion, but the coronavirus pandemic-driven downturn has led to layoffs and declining revenues.

What’s Subsequent: The SEC has to evaluation the filing and give the greenlight for Airnbnb’s extended-awaited IPO.

This tale initially appeared on Benzinga.

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