According to a report from The Information, Airbnb co-founder and CEO Brian Chesky told its employees that the company is aiming to go public by late 2020.
Airbnb’s IPO has been a source of frustration for employees as many of them need to stay at the company to vest and sell their stock grants. An IPO would mean much more liquidity when it comes to buying and selling Airbnb shares.
In addition to the new timeframe, Airbnb is also offering more bonus options. Employees can now choose to get bonuses in cash instead of stock. This could improve employee retention as many employees probably don’t need more Airbnb stock if they’ve been around since the early days of the company.
Last year, Airbnb closed a $1 billion round at a $31 billion valuation. The stakes are now quite high for the IPO given the last valuation.