Airbnb Inc will go ahead with a public offering (IPO) sometime next year, but it hasn’t confirmed exactly when.
The peer-to-peer accommodation site was valued at $31 billion recently, and, unlike other recent Silicon Valley IPOs, Airbnb can claim to be relatively profitable.
It says it had a pre-tax profit in the past two years and has twice recorded quarterly revenues of more than $1 billion.
Airbnb says it has more than seven million listings in 100,000 cities globally.
The company has branched out from its core business of short term holiday rentals to include a comprehensive business travel unit, premium rentals, and tours and activity bookings.
It has fuelled growth with strategic acquisitions along the way, including high-end villa platform Luxury Retreats and last-minute booking site HotelTonight.
What the Mole says:
It will likely have an easier time convincing investors of its profitability compared to Lyft or Uber, but the still ongoing regulatory challenges in cities such as London, Barcelona and New York, might put some investors off.