Startups: How dubious financial firms want to earn money from the Airbnb IPO

Online advertising is wrongly advertised as being able to participate in the “biggest IPO 2020”
Finance Forward

It could be one of the biggest IPOs of the year. The accommodation platform Airbnb wants to venture an IPO in New York in December – with a target valuation of 30 billion dollars. The relevant documents were received by the US Securities and Exchange Commission on Monday evening. Many small investors are impatiently waiting for their chance to invest in the American tech company. The stock markets are currently heated up anyway, and millions of small investors are now investing in stocks.

This hype attracts scammers who try to make money from unsuspecting investors. When doing a Google search for the Airbnb IPO, the first results are promising: “Become part of the biggest IPO in recent history,” says an advertisement, for example. Interested parties can request information about the IPO on the website. The site promises “real potential for massive profits”.

However, research on the associated company quickly shows that the offer is not credible. In the past, there were always frauds before major IPOs, the most prominent example being Facebook. And the scam at the Airbnb IPO doesn’t seem to be new either.

You can read today at Finance Forward, the finance portal of and OMR, how fraudsters have already been able to steal millions with the scam. You can register for the daily newsletter here.

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