If speculation regarding upcoming WeWork and Airbnb initial public offerings prove true, bullish tech investors will have much to look forward to in 2018, Reuters reports.
The stock market has been in a frenzy these last few years over five tech companies that make up the acronym FAANG (Facebook, Apple, Amazon, Netflix and Google). While FAANG stocks are still hot commodities, four soon-to-be publicly traded companies that make up the new acronym SLAW (Spotify, Lyft, Airbnb and WeWork), are expected to dominate this year.
Music streaming company Spotify, and ride-sharing service Lyft have joined the ranks of Airbnb and WeWork, and just as the companies that made up FAANG caused a major shift in retail, media and the internet, taking these four private companies public could further shape the way people travel and work, Reuters reports.
Airbnb has shaken up the lodging sector with its short-term home rental concept, earning itself a $31B valuation. The company is expected to launch an IPO sometime this year, though it has faced some challenges lately with a decline in demand in major metros across the globe. In an effort to add to its offering and overcome a potential slump, the home-sharing behemoth is adding new services to its platform such as Airbnb Trips, which connects travelers with unique experiences based on suggestions by local residents around the world.
Whisperings of a WeWork IPO have been swirling for months, though timing has yet to be confirmed. CEO Adam Neumann had confirmed his intentions to take the company public last summer, but has not yet made any notable moves on that front. In the meantime, the co-working giant has been busy working its way into sectors like retail with its recent investment in the Lord & Taylor flagship store in Manhattan and education in the form of an elementary school called WeGrow. WeWork also launched its wellness and fitness concept Rise by We in October.
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