The halt to most business around the world brought on by the coronavirus, COVID-19, has now fully stopped the 2020 IPO market. The turbulent stock market mixed with uncertainty about containment from world leaders has led many investors to keep their funds away from the stock market. However, a few companies have filed for IPOs in the near future, suggesting that businesses and investors are just waiting for the outbreak to be brought under control to go back to conducting business as usual.
Airbnb, a 2020 IPO hopeful, has redirected its public strategy recently, despite the coronavirus economic crisis hitting the travel and leisure industry particularly hard. According to a report from CNBC, Airbnb is currently fielding interest from investors and entering what the company is calling "listen mode" as it considers this volatile time to be a good opportunity to raise money.
The report found that the home-sharing travel company has plenty of funds with $3 billion in cash and $1 billion in credit, putting Airbnb in a good opportunity to survive the outbreak.
Airbnb may be preparing to take the route of Slack
The IPO market is most likely going to be put on hold for the time being. Investors moving forward will most likely look for valuations remaining high and the ability to generate consistent profits before and after the crisis once the market heats back up again.