(San Francisco, CA) — The wait is almost over, Airbnb is going public!
According to a source close to the tech startup, the company has set its eyes ongoing public no later than late 2020.
Airbnb, privately valued at $31 billion, has left many employees frustrated because of their inability to sell their shares on a regular basis.
However, Airbnb is doing some serious damage control. Since employees haven’t been able to sell their stock to new investors since 2016, Brian Chesky co-founder and CEO says Airbnb will pay cash bonuses and will accelerate the vesting schedule for some stock grants.
While the company is anticipated to earn $3.5 to $4 billion in revenue this year, it hasn’t always been smooth sailing. Back in March of 2017, the company announced it would be ready to go public this year. However, the resignation of the company’s chief financial officer Laurence Tosi, a proponent of the IPO, could have been a factor in the company’s decision to push back the date.