AirBnB is set to become one of the marquee floatings of stock this year, after the home-sharing company decided to go public. The move comes as demand for home rentals have dropped due to the coronavirus pandemic.
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Home-sharing giant AirBnB on Wednesday filed preliminary paperwork for an initial public offering (IPO) on Wall Street with the US Security and Exchange Commission.
The San Francisco startup said it has not yet determined the number of shares to be offered or the price range for the IPO. The timing of the IPO has also not been set.
"The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions," the firm said.
Founded 12 years ago, AirBnB has long been expected to go public. The company's CEO Brian Chesky had said he was working on the IPO before the coronavirus outbreak in the United States in March.
Paris reawakens — these sights can be visited again
Bars, restaurants, and hotels are open again: Paris is emerging from its coronavirus lockdown-induced slumber and the first tourists are returning. Many sights can be visited again, but by far not all of them.
Image: Fotolia/Ekaterina Pokrovsky
The Eiffel Tower
Put on your face mask and off you go! If you want to go up the Parisian landmark, you need to be fit: The elevators aren't running, so the 765 steps to the second-floor viewing platform have to be climbed on foot. The top of the Eiffel Tower including the restaurant will be closed for the time being. Tickets must be bought online. According to the operator, most reservations are made by Germans.
Image: picture-alliance/dpa/Mahaux-AGF
The Louvre Museum
The most visited museum in the world has announced its reopening from July 6. Tickets will be sold online, but only a third of the usual number. Visitors must wear face masks and will be guided through the rooms on a predetermined course, which will also pass the "Mona Lisa "painting. Around 90% of the guests are said to come to the Louvre just to see her.
Image: picture-alliance/Bildagentur-online/AGF/L. De Simone
Musée d‘ Orsay
For those who do not want to wait until July 6, there is the Musée d'Orsay. Since June 23, it has been open to the public again, as long as people wear a mask and book an online ticket. The building alone is impressive: a former, palatial railway station built for the 1900 World Fair. In the museum, masterpieces of Impressionists painters from Monet to van Gogh are exhibited.
Image: Bertrand GuayAFP/Getty Images
Palace of Versailles
Visitors can also again stroll through the "Sun King" Louis XIV's magnificent chambers, of course only with an online ticket and a facemask. And there is a lot to see: 1,800 rooms and 288 apartments — the royal family resided in 152 rooms alone. By the way, admission to the extensive gardens of Versailles Palace is free.
Image: picture-alliance/IMAGNO/J. Kräftner
Fondation Louis Vuitton
Since 2014, this spectacular building in the Bois de Boulogne has been a place of pilgrimage for lovers of architecture and art. The building, designed by architect Frank O. Gehry, is normally used for temporary exhibitions of contemporary art. Unfortunately, there is still no date for its re-opening.
Image: picture-alliance/T. Muncke
Disneyland Paris
On July 15, the largest amusement park in Europe will resume operations and the sale of online tickets has already begun. Visitors aged 11 and over must wear a face mask. Hugs with popular characters like Mickey Mouse or Donald Duck are not allowed, but photos with them are. Last year, 15 million people visited the theme park on the outskirts of Paris.
Image: Disneyland Paris
Galeries Lafayette
Since the end of May, Paris department stores have been allowed to welcome their customers again, in compliance with strict hygiene regulations, of course. In the long-established Galeries Lafayette too, guests can once again shop and admire the architecture: The galleries are reminiscent of opera house boxes, crowned by an Art Nouveau dome that hovers 42 meters (138 feet) above the ground.
Image: picture-alliance/dpa/W. Grubitzsch
Sacré Coeur
The Sacré Coeur Basilica stands on the highest hill in the city, the 130 meter (426 feet) high Montmartre. The Neo-Byzantine-style pilgrimage church is one of the most romantic places in Paris and it is also open again. The terrace below the main portal is the perfect place to watch the sun set over the "City of Love."
Image: picture-alliance/dpa/W. Grubitzsch
A boat trip on the Seine
To experience Paris from the water is is also possible again. The first providers have resumed the tours, others will follow by July 1. However, the popular evening dinner rides are still unavailable. But for a photo tour through Paris such a boat trip is always a good choice. No matter whether the respective sights are already open or not.
Image: picture-alliance/dpa/M. Christians
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Coronavirus effects
AirBnB has been hit hard by the financial effects of the pandemic. Chesky has said that revenue in 2020 will likely be less than half of what it was last year.
In April, the company raised $2 million in two rounds of debt to fund operations. In May, the company cut 1,900 employees, a quarter of its workforce.
The pandemic initially hurt demand for the 7 million properties listed by AirBnB, but demand has rebounded as people have preferred property rentals to staying in crowded hotels. On July 8, the company said guests had booked 1 million nights' worth of future business for the first time since March 3.