Airbnb Files IPO

On Monday Nov. 23, rental company Airbnb publicly announed its IPO. The company released a prospectus detailing its debut on the public market. The company will trade on the Nasdaq under the symbol “ABNB.” Airbnb is seeking to raise $3 billion at a valuation of $30 billion.

Prospectus Details

Airbnb’s S-1 filing mentions the Covid-19 pandemic more than 200 times. The pandemic hit the travel industry especially hard, and Airbnb initially lost many customers and revenue. People around the world canceled vacation plans and stopped traveling, as a result of the pandemic and travel restrictions. However, by June, people began traveling again, but preferred trips to areas close to their homes and away from crowded areas. Airbnb became more popular than hotels and the company recorded an ...

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