San Francisco based online vacation home renting platform Airbnb Inc. is intending to raise $3 billion from its initial public offering. The company had filed with regulators to go public in March however due to plunge caused by the pandemic especially in the travel and hospitality industry worldwide the company had no other option than to shelve the plan for a moment.
Nonetheless the company has now revived its plans again rumors has it that the company confidentially filed for an IPO with United States regulators in August. Insider sources have revealed the company is aiming on capitalizing on the sharp economy recovery from the pandemic as it goes public.
Involved sources revealed to Reuters that Airbnb is waiting to file for its IPO in November immediately after the U.S Presidential elections then proceed to have the IPO sometimes in December.
Additionally, the sources said the dates are subject to market conditions hence the company could shift the dates depending on levels of volatility which will accompany the hotly contested and much awaited presidential elections.
If the company hits its IPO target then it will have a market valuation of $30 billion up from the $18 billion market valuation Airbnb had back in April after raising $2 billion from a financing round with its investors.