Airbnb to confidentially file for IPO in August: WSJ
Short-term home rental company Airbnb Inc is close to confidentially filing paperwork for an initial public offering (IPO) with the U.S. Securities and Exchange Commission later in August, the Wall Street Journal reported on Tuesday.
Airbnb is preparing to potentially go public before the end of the year, the report said, citing sources familiar with the matter.
An Airbnb spokesman declined to comment.
Reuters had reported in October that Airbnb was close to hiring Morgan Stanley and Goldman Sachs Group Inc as joint lead advisers on its planned stock market flotation.
Airbnb last year announced plans to become a publicly listed company in 2020, making it one of the biggest names to pursue a stock market float this year.
The company’s plans to go public come at a time when its core home-rental business has been hit hard by the COVID-19 pandemic, which has forced millions of people across the world to postpone their travel plans.
Earlier this year, Airbnb raised $1 billion in funding from private equity firms Silver Lake and Sixth Street Partners.
Chinese tech giant Tencent is creating a "smart city" that utilises technology to put people and the environment first, a model that could be applied to other urban developments after the coronavirus, the project's architect said on Wednesday.
Facebook weighs 'kill switch' for political ads after U.S. election to curb misinformation, source says
Facebook Inc (FB.O) is considering halting political advertising after U.S. Election Day to curb post-election misinformation, a source who has had discussions with the company said Friday.
The coronavirus has disrupted supply chains and demand across the global economy, but it is the prospect of Europe becoming a casualty in the U.S.-China tech war that keeps the president of the European Chamber in China "awake at night".