“The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions,” read the announcement.

Airbnb is not obliged to disclose specific financial information at this stage but the move comes after it laid off nearly 2,000 employees in May and in July stopped anyone under 25 with fewer than three positive reviews from renting entire homes to crack down on unauthorised house parties.

Airbnb will have taken a massive hit during the coronavirus pandemic as the world stopped travelling. The news of its impending IPO could make or break its fortunes, but it is a company that until recently was an unbridled success.