Note: I’m testing shorter, more to-the-point updates, alongside the regular ones. Let me know what you think in the comments!
Airbnb sent a letter to the SEC asking for the regulator to permit offering equity to hosts. Airbnb primarily supported changes to Securities Act Rule 701 that would allow offering shares to gig economy workers, not just investors and staff. CEO Brian Chesky characterized it as vital to rewarding the company’s supporters.
This isn’t the first time a gig-oriented online service has petitioned the SEC. Uber met with the Commission more than once to ask about the possibility. Airbnb is pushing for a direct policy change, however, where Uber was more interested in how it could offer shares under the existing framework.