Airbnb wants to make the jump on the stock market in 2020

The site of short-term rentals Airbnb announced in a statement Thursday that it intends to become a public company next year.

The private company, founded in 2008 in San Francisco, has not specified in which stock market it intends to register its shares or the amount of money it intends to raise.

Airbnb would join the carpool giants Uber and Lyft as sharing economy companies to take the stock market jump. WeWork is also planning to launch its first public call later this year.

Both Uber and Lyft struggled after listing , as investors questioned the profitability and growth potential of both companies.

Airbnb, which allows homeowners and condos to rent their properties for short periods of time, has revolutionized the hospitality and tourism industry since its launch more than a decade ago.

The company now has more than 7 million homes worldwide on its platform.

Some accuse the company of helping homeowners avoid paying taxes on their income and exacerbate the housing shortage in the rental market.

This week, Airbnb reported revenues of over a billion US dollars in the second quarter of 2019. The company refused to disclose its profits and indicate whether it was already profitable.

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Barb Arushie

About the Author: Barb Arushie

Barb Arushie is a financial reporter, focusing on technology and national security. Before joining Vnnking, Barb worked as a staff writer at Fast Company and spent two years as a foreign correspondent in London (Uk). Her work has been published on NBR, Business Insider, Medium and many other outlets.

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