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Airbnb targets 2020 for IPO
Airbnb is targeting no later than the end of 2020 for its long-mooted initial public offering.
The company has reportedly informed its employees it plans to be ready for an IPO by 30 June 2019 with the aim of listing before late 2020.
It has set up a bonus program to reward employees with cash bonuses in 2018 and 2019 and is ending the one-year equity grant vesting cliff.
With an eye on the future IPO, Airbnb has reportedly offered an option for employees to take refresh grants paid in cash instead of shares.
This is designed to quell growing impatience over the company’s lack of urgency in going public.
Airbnb previously allowed some employees to sell their stock to new investors back in 2016.
Before then, it is still searching for two key new hires – a new marketing chief and a new CFO.
Airbnb’s board has reportedly already met with Morgan Stanley to sound out options for going public, however that was before chief financial officer, Laurence Tosi left earlier this year.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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