Airbnb announces plans to go public in 2020

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NEW YORK: Internet home stay company Airbnb said Thursday it plans to make its stock market debut next year but offered few details.

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Launched in 2008, the company is considered a “unicorn,” or a startup valued at more than $1 billion even before its initial public offering and has disrupted the hotel and travel industry.

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Other highly anticipated Wall Street launches for tech companies in the “gig” economy, such as the ride-hailing services Uber and Lyft, have seen shares plummet after the start of trading. The office space rental firm WeWork this week delayed its IPO.

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