Sorry Wall Street, Brian Chesky Doesn’t Need Your Money
As private tech behemoths like Airbnb allow some employees to cash in early, IPOs get pushed even farther off.
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Airbnb doesn't want to go public anytime soon. Why would it? The home-sharing company has been able to raise funding from private investors to its heart's desire. You've got to believe that if the startup decides that it needs more money, SoftBank with its $93 billion fund, is happy to help. And Airbnb is profitable, so it doesn't need more cash to stay afloat.
What about that sweet IPO payout, you say? Even without going public, the company's three founders and some early employees netted at least $350 million by selling their Airbnb shares privately. What's not to love?