Save the date: Airbnb may go public in 2018

Los Angeles /
Mar.March 14, 2017 04:30 PM

From the New York website: 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
(Redwood Urban)
Hollywood tenants’ lawsuit blitz takes turn for the surreal
Hollywood tenants’ lawsuit blitz takes turn for the surreal
San Diego Mayor Todd Gloria (Getty)
San Diego approves strict cap on certain short-term rentals
San Diego approves strict cap on certain short-term rentals
1724 Highland Avenue (Redwood Urban)1724 Highland Avenue (Redwood Urban)
Lawsuits allege Airbnb guests ran rampant at Hollywood apartment complex
Lawsuits allege Airbnb guests ran rampant at Hollywood apartment complex
The party mansion at 1120 Sierra Madre Avenue, Glendora, Los Angeles (Credit: AirBnb and Google Maps)
Airbnb sues LA “party promoter” for throwing “mansion parties”
Airbnb sues LA “party promoter” for throwing “mansion parties”
Brian Chesky (Credit: Richard Bord/Getty Images, Airbnb, and iStock)
Airbnb sues booking guest over unauthorized house party
Airbnb sues booking guest over unauthorized house party
Brian Chesky (Credit: Kimberly White/Getty Images)
Airbnb has thousands of unregistered listings in LA, city charges
Airbnb has thousands of unregistered listings in LA, city charges
Eric Garcetti
California urbanites flee cities amid coronavirus, despite warnings and orders to stay put
California urbanites flee cities amid coronavirus, despite warnings and orders to stay put
Coachella Valley (Credit: Mario Tama/Getty Images)
Coronavirus hits seasonal Coachella Valley tourist economy hard
Coronavirus hits seasonal Coachella Valley tourist economy hard
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...