The IPO registration will offer the first detailed look at its business and how it reinvented the business after the pandemic forced it to turn its focus towards holiday homes from city apartments. Setting the IPO price range and an investor roadshow are planned by the company for December even as the sources cautioned the timing to be subject to market conditions. Airbnb had in April this year secured a $1 billion loan, days after closing a deal for $1 billion debt, from private equity investors including Owl Rock, Sixth Street Partners, Silver Lake, Oaktree Capital Management, and Apollo Global Management.
Airbnb had reportedly confidentially filed for IPO in August this year. It is eyeing to raise around $3 billion and may hit over $30 billion in valuation in the IPO, CNBC reported. This is significantly higher than its $18 billion valuation back in April when it secured $2 billion debt. Over 1 million nights were booked by customers in a single day on its platform for the first time since March 3, Airbnb had said in July. Shares had bounced back over 35 per cent in the past six months for online travel firm Booking Holdings that is used as a conservative public market proxy by some Airbnb investors for its own stock. Airbnb had invested around $75 million in OYO in April 2019.