Airbnb Inc\u2019s Brian Chesky is trying to soothe the masses. The co-founder and chief executive officer of the home-sharing website told employees on Thursday that it will pay them cash bonuses and is aiming to hold an IPO before late 2020, when some employee stock grants expire.<\/p>\n
The move is designed to calm growing frustration because the 10-year-old upstart has yet to pursue a public offering.<\/p>\n
Airbnb last allowed some employees to sell stock to new investors in 2016.<\/p>\n
The company says it will be ready to hold an IPO in June 2019, said a person familiar with the matter. And during the company-wide meeting, Chesky stressed that Airbnb would take steps to go public by late 2020 at the latest, said a person in attendance.<\/p>\n
The meeting was reported previously by the website The Information.<\/p>\n
Airbnb\u2019s founders and early employees have little financial incentive to push for an IPO. They have cashed in at least $350 million worth of equity, said people familiar with the matter.<\/p>\n
In December, members of Airbnb\u2019s board met with Michael Grimes, the head of global technology investment banking at Morgan Stanley, to present options for going public, said people close to the bank.<\/p>\n
In late January, Airbnb lost its chief financial officer, Laurence Tosi.<\/p>\n