Airbnb is back from the brink after the economic downturn. Now, the popular online vacation rental marketplace, is taking a bold step many thought would never happen.
The company says last week they confidentially filed to go public. It could be one of the largest public market debuts among sharing start-ups.
Spokesman Ben Breit also says the San Francisco home sharing company is cracking down on people using their listing to host big parties amid the pandemic. Specifically, they will limit occupancy in its rental homes to 16 people.
“We’ll be coming in with very aggressive messaging to remind guests and to warn them that they cannot be doing anything like that and they’re risking a permanent ban from our community, and potentially legal action as well,” Breit said.
Investors had doubts Airbnb would have come this far. Earlier this year, the shutdown cratered bookings, triggered thousands of layoffs and cut its estimated value by almost half. Prior to the pandemic, Airbnb was estimated to be worth about 31 billion dollars.