Airbnb prepares for its IPO in the United States

The shared hosting platform plans to debut on the Nasdaq on Wall Street in December under the name ABNB.

November 17, 2020 2 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Airbnb, the world’s largest shared hosting platform, submitted the documentation required by the United States Securities and Exchange Commission (SEC) to debut on the Nasdaq on Wall Street in December.

The San Francisco-based company on Monday listed the size of the offering at $ 1 billion, a placeholder that will change as its bankers test demand for the shares. The number of shares to be sold and their proposed price range will be revealed in a later presentation.

People familiar with the company’s plans have said it will seek to raise up to $ 3 billion in an IPO in December.

The listing will be one of the largest this year, crowning a surge in IPOs that has largely defied the economic devastation caused by the coronavirus pandemic.

Airbnb’s IPO has been rumored for a long time and last April its CEO, Brian Chesky, said in an interview that the company was preparing the process when the pandemic hit, with a great impact on international tourism, and forced postpone plans.

One year of losses

Between January and September, the platform accumulated losses of 697 million dollars, due to the decrease in tourist activity due to the coronavirus pandemic.