Airbnb is reported to have knocked back an offer to merge with Bill Ackman’s Pershing Square Tontine Holdings.
The platform will instead pursue its IPO, the full details of which have yet to be revealed.
Ackman raised $4bn in an IPO in July and told investors last week that he was in talks with a number of potential companies, one of whom was thought to be Airbnb.
“We would certainly take a look at a company like Airbnb. I’ve always admired the business,” Ackman said in an interview with Bloomberg TV in July. “I’ve admired its economic characteristics.”