Save the date: Airbnb may go public in 2018

CEO Brian Chesky says $31B company is halfway through two-year prep

TRD NEW YORK /
Mar.March 14, 2017 09:30 AM

After nearly 10 years of business, Airbnb finally set an approximate date to go public.

CEO Brian Chesky said on Monday that the company is on pace to launch an initial public offering in 2018, the New York Post reported.

“We are halfway through the two-year process of getting ready to go public,” Chesky said during an event at the Economic Club of New York at the New York Stock Exchange.

The short-term rental company, valued at $31 billion, brought in $1 billion during its latest round of fundraising. China’s sovereign wealth fund, the China Investment Corporation, contributed roughly 10 percent of that funding haul.

Airbnb has started making moves to expand its business to travel, long-term rentals and other arenas. In February, the company acquired Montreal-based Luxury Retreats, a luxury vacation-rental service. Bloomberg reported in February that Airbnb had $3 billion in cash that it was looking to spend on acquiring other companies, such as travel booking websites.

“I want to sell end-to-end trips where the home will be the minority of what we do,” Chesky said. [NYP] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Eric Gordon

Eric Gordon on the evolution of the residential data game — and how to stay competitive in the new world

Big Tech locations in NYC

MAP: Here’s a look at all the Big Tech locations in NYC

From left: Mayor Bill de Blasio, 54 West 39th Street, 62 Grand Street, and 208 West 30th Street (Credit: Google Maps)

The Airbnb crackdown continues: City targets three more buildings

Airbnb CEO Brian Chesky (Photo by Stefanie Keenan/Getty Images for Airbnb)

Airbnb’s $1B fundraise comes with a hefty valuation cut

Airbnb CEO Brian Chesky (Chesky by Bryan Bedder/Getty Images for Airbnb)

Airbnb raises $1B from private equity firms

Proptech and the pandemic TRD Talks Live

Proptech and the pandemic: Will coronavirus change how real estate works?

Brian Chesky (Credit: Richard Bord/Getty Images)

Airbnb announces relief package. Some hosts say it’s not enough

Airbnb CEO Brian Chesky (Photo by Bryan Bedder/Getty Images for Airbnb)

Airbnb suspends marketing, cuts executive pay in half

arrow_forward_ios
Loading...