One of the most valuable private startups in the world, Airbnb reached a valuation of $31 billion at one point and now it is about to go pubic.
Airbnb was founded in 2008 as Airbed & Breakfast by Brian Chesky, Joe Gebbia and Nathan Blecharczyk.
The Company made it known last year that it has plans to go public this year, and despite the pandemic that has so much harmed the revenue, it is still poised to stick-to the plans as it filed its IPO paperwork this Monday.
Airbnb revealed in its documents that it turned a profit of about $219 million in just the third quarter of this year on a $1.34 billion revenue.
However, the Covid-19 pandemic has really affected the platform and its customers as it cautioned on its filing that “During the fourth quarter of 2020, another wave of Covid-19 infections emerged,” and thus it is expecting to see greater declines in bookings and cancellations in the current quarter than in the third quarter of this year.