Airbnb announced that it plans to follow in the footsteps of startups such as Uber and Lyft and become a publicly-traded company in 2020.
The San Francisco-based home-sharing platform confirmed the move in a release on Thursday but didn’t provide any additional details.
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Citing people familiar with the situation, The Wall Street Journal reported last month that Airbnb had planned to go public in the first half of next year.
The Journal also reports that Airbnb is one of the most valuable closely held companies in the world, receiving a valuation as high as $31 billion as of March 2017, according to data from Dow Jones VentureSource.
Airbnb has recently expanded beyond just accommodations though, launching tools allowing travelers to book unique experiences in tours in popular destinations.
Founded in 2008, Airbnb has been a thorn in the side of the hotel industry for years, with both sides going back and forth in the media. Interestingly, the home-sharing platform isn’t always a cheaper option.
