Airbnb, an online marketplace for offering and booking lodging, primarily homestays, and tourism experiences, has announced its plans to launch an IPO in 2020.
Founded in 2008, Airbnb allows individuals and organizations to list properties on their website for possible lodgings and homestays. The company is evaluated at $30 billion and alleged to have more listings than the eight largest hotel groups in the world.
Airbnb revealed in a press release that their revenue exceeded $1 billion in the second quarter of 2019. The statement read “In the second quarter of 2019, Airbnb recognized substantially more than $1 billion in revenue. The second quarter of 2019 marked the most outstanding second quarter in our history in which revenue exceeded $1 billion.”
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The company intended to list in March 2019, alongside Uber and Lyft. But the plan was interrupted by the company’s co-founder Nathan Blecharczyk. They have however decided to go on with the listing by 2020.
Airbnb stated that as of September 15th, 2019, individuals and organizations who listed their homes and rooms on the platform made over $80 billion. They also revealed that about 45,000 teachers who listed on the platform earned $160 million in one year.
The company’s statement also revealed that its housing stock listings are about 7 million in over 100,000 cities globally. Over 1,000 cities have more than 1,000 listings.
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