Airbnb said Thursday it plans to go public in 2020, a long-awaited move by the home-sharing company that is both loved and reviled for its disruption of the hotel business.
Airbnb disclosed the news in a brief statement. It didn’t give a target date for the initial public offering or say why it thinks the timing is right. Airbnb was valued at $31 billion (roughly Rs. 2,20,000 crores) last year, according to Renaissance Capital, which researches IPOs.
San Francisco-based Airbnb was launched in 2008. Co-founders Brian Chesky and Joe Gebbia needed some extra cash, so they put three air mattresses on their apartment floor and set up a website promising a place to sleep and a free breakfast. They named their new venture AirBed and Breakfast.
Since then, Airbnb has grown into one of the world’s largest home-sharing platforms, rivaled only by Booking.com. Six guests check into an Airbnb every second, the company says. Airbnb has more than 7 million listings in 100,000 cities worldwide. Nearly 1,000 cities have more than 1,000 Airbnb listings. In 2011, only 12 cities did.