Airbnb may seek direct offering instead of IPO

Home-sharing company Airbnb may eschew an IPO in favor of a direct listing, according to a Bloomberg report, following a rocky summer of tech public offerings.

Investors over the course of the summer have cast doubt about tech start-ups’ ability to survive on the public markets, starting with ride-hailing giant Lyft, whose value sank to $11.6 billion Tuesday, or roughly half of its value when it started trading in March. Uber’s shares are down nearly a third. This week, co-working company WeWork postponed its IPO indefinitely.