FILE PHOTO: The logo of Airbnb is to be displayed at an Airbnb event in Tokyo, Japan on the 14th of June, 2018. (REUTERS photo/Issei Kato/File Photo
(Reuters) – Home-rentals-giant, Airbnb said it plans to list on the stock markets by 2020, making it one of the most high-profile market debut next year. (a little bit.m/2mqasWw)
In a brief statement posted on its website on Thursday, Airbnb, and it is widely expected that the listing through direct listing, but gave no details on how it’s going to be a listing of the new shares.
On Monday, Airbnb said it took in more than $1 billion in revenue for the second quarter of 2019. Reuters reported in June that Airbnb was considered to be a direct entry.
This year marked the debut of a number of high-profile Ipo’s, such as Uber and Lyft Inc. but the business is doing badly, following their launch in the middle of the investor’s doubts about the lack of a concrete plan in order to maximize profitability.
WeWork, the owner of The Company, has postponed its initial public offering, running from the preparations for the opening of the month, after a weak response from the investors.
Airbnb has not given any details about whether or not it was profitable in the second quarter of 2019, but it has been said that its earnings before interest, taxes, depreciation, amortization, and return on investment was found to be positive in 2017 and 2018.
With the recent lackluster stock market debut with a strong, venture-backed start-ups, to have prompted experts to suggest that investors ‘ patience with a deep, non-profit making internet ventures that may be wearing thin.
Reporting by Anirban Sen; Editing by shailesh Kuber