Airbnb have reportedly hired Morgan Stanley and Goldman Sachs ahead of their planned direct listing instead of a initial public offering (IPO) in 2020.
Direct listing has no new shares sold and investment banks advise on conditions, thus mean companies save on fees as there is no underwriting.
Airbnb’s chief executive Brian Chesky said in May 2018 the IPO was not definite, “We have investors who are really patient, and I want to make sure it’s a benefit when we do.”
Last month Airbnb have said they are planning to go public in 2020 after reporting over $1bn revenue in the second quarter of 2019.
The home sharing company was founded in San Francisco in 2008 and has more than 7m listings in more than 100,000 cities worldwide.