Airbnb announces plans to go public in 2020

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

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.

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.