Name: Airbnb plans to confidentially file for IPO this month
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Airbnb plans to confidentially file for IPO this month

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Key PointsAirbnb to file confidentially for IPO in August: SourcesAirbnb is planning to submit a confidential filing with the SEC this month to go public, a source familiar with the matter confirmed to CNBC.Shares could begin trading by the end of the year. Airbnb declined to comment.&nbsp;The Wall Street Journal the news of its market debut.&nbsp;The company was expected to go public earlier this year but put those plans on hold due to the Covid-19 pandemic and , or roughly 1,900 employees, to cut costs. At the time, CEO Brian Chesky told employees that its 2020 revenue will be of what the company earned in 2019.&nbsp;The pandemic has been a huge hurdle for the short-term rental company to overcome, as it has devastated the travel and hospitality industries.&nbsp;Airbnb's private valuation has dropped to $18 billion, down from the $31 billion figure when it raised a round of funding in 2017. The company also in April in equity and debt from Silver Lake and Sixth Street Partners to get through the crisis. It just a week later from Fidelity, and .

Key PointsAirbnb to file confidentially for IPO in August: SourcesAirbnb is planning to submit a confidential filing with the SEC this month to go public, a source familiar with the matter confirmed to CNBC.Shares could begin trading by the end of the year. Airbnb declined to comment.&nbsp;The Wall Street Journal the news of its market debut.&nbsp;The company was expected to go public earlier this year but put those plans on hold due to the Covid-19 pandemic and , or roughly 1,900 employees, to cut costs. At the time, CEO Brian Chesky told employees that its 2020 revenue will be of what the...

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Deirdre Bosa re-joined CNBC in October 2016 as a technology reporter based at the network’s San Francisco bureau, CNBC@1Market.  Previously, she was a frequent presence on air and online as a CNBC contributor, reporting out of Vancouver, Canada.

Deirdre Bosa

Jessica Bursztynsky is an associate reporter for CNBC.com covering breaking tech news. She started working for CNBC in January 2019 as a breaking news intern. She graduated from the University of Illinois at Urbana-Champaign with a BA in Journalism.

https://www.cnbc.com/jessica-bursztynsky/

Jessica Bursztynsky

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Airbnb plans to confidentially file for IPO this month

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