Wall Street and Main Street seem starkly disconnected as the S&P 500 nears record highs. AirBnB finally files for its IPO, SpaceX is building 120 Starlink satellites per month, and blockchain makes a comeback as Alchemy leaves stealth mode. Meanwhile, the UK is stuck in a recession.
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1. AirBnB plans to confidentially file for IPO this month
AirBnB, one of the most anticipated IPOs of the decade, is finally ready to sell shares to the public. According to a source familiar with the matter, AirBnB plans to confidentially file with the SEC some time in August 2020. Shares could begin trading by the end of the year.That being said, AirBnB has declined to comment.Despite lower projected revenues thanks to COVID-19, AirBnB still outperformed expectations in both June and July and managed to raise $1 billion in April from Silver Lake and Sixth Street Partners and raised another $1 billion a week later from Fidelity,T. Rowe Price, and BlackRock. Clearly, Wall Street remains very interested in AirBnB despite the worsening COVID-19 pandemic.https://www.bloomberg.com/news/articles/2020-08-11/airbnb-is-said-near-filing-to-go-public-after-travel-rebound
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