Airbnb Promises More Cash for Employees, Plots IPO by 2020

Airbnb CEO Brian Chesky told employees Thursday it will pay cash bonuses for the first time in years, a move apparently designed to address growing frustration that the hospitality startup had yet to go public. Mr. Chesky indicated that the company would aim to go public by late 2020, before some employee stock grants expire, a person close to the company said.

Under the revamped compensation plan, Airbnb also will accelerate the vesting schedule for some stock grants, according to the person.