Airbnb CEO Brian Chesky. Photo credit: Airbnb

Airbnb has announced that it’s confidentially filed to go public, long after rumors and tittle-tattles of the company looking to go public soon. With its now submitted confidential filing, it seems clear that Airbnb is likely to go public this year. Being confidential, Airbnb’s filing has not yet been unveiled to the public but when it is, we’re poised to see clear details surrounding the entirety of its business. The coronavirus pandemic has negatively affected Airbnb’s business, such that the company’s revenue for the second quarter of 2020 tanked 67% year-over-year. On the heels of the coronavirus pandemic, Airbnb had to raise $2 billion in additional equity and debt funding to bolster its cash pile.

Airbnb is looking to go public more than a decade after its founding. Since its inception, the San Francisco-based company is known to have raised $5.4 billion in total equity and debt funding.