Airbnb employees have become frustrated by the company’s inability to cash in the company’s stocks that they received as part of their compensation package. Most employees have started that this particular problem has prevented them from making career changes, starting families and improving their lives.
Airbnb employees had recently written an official letter to the start up founders to plea for them to be able to sell Airbnb’s stock options. The employees requested the company to go public as they could be able to freely sell their shares.
This discontent has been as a result of two tranchees of employee equity that is set up to expire in November 2020 and in Mid 2021 as they will be worthless if the company doesn’t trade publicly by then.
Mr Brian Chesky, Airbnb’s Chief Executive Officer stated that the company is not rushing to go public and that he is now exploring nontraditional Initial Public Offerings where the shares will be listed directly or on the Long Term Exchange which has been backed by venture capital but not yet operational.
To keep the employees happy Mr Brian Chesky made some changes in the company such as offering sabbaticals to long term employees, extended parental leave policy, increased the retirement matching program and created a program to provide low interest general purpose to employers.
Airbnb later issued an official statement announcing that it expects to become a publicly traded company in some time in 2020.