Airbnb told employees it's resuming plans to go public
Airbnb resumes its efforts to go public, despite significant damage to the home rental business caused by the coronavirus pandemic, Airbnb’s chief executive, Brian Chesky, told employees.
Airbnb is trying to repair its relationship with its hosts, who supply the rentals for its platform and whose income has dried up with travel halted. Airbnb has adapted its offerings, including creating new cleaning initiatives, selling access to “virtual” activities done over video streaming and promoting rentals in rural areas within driving distance.
Chesky closed the meeting by declaring that Airbnb is back. “We’re not committing to going public this year, but we’re not ruling it out, either,” he said. “When the market is ready, we will be ready, because Airbnb was down but we were not out.”