Airbnb wants to give hosts stock in the company

Airbnb has written to the US Securities and Exchange Commission (SEC) to ask for an amendment to regulations that will allow it to grant hosts equity in the business before it goes public, TechCrunch reported.

Airbnb is working to ensure that it is ready for an initial public offering from mid-2019.

Citing Axios, the report states Airbnb asked the SEC to introduce a new class of shareholder for workers who participate in businesses like Airbnb.

Granting participants in the “gig economy” equity in a business from an earlier stage will further align incentives between such companies and their partners.

“As a sharing economy marketplace, Airbnb succeeds when these hosts succeed,” the company said.

Axios reported that Uber has met with the SEC several times to try and get similar changes made to the existing regulations. Ride-hailing startup Juno also promised to give drivers shares, but abandoned the plan when it found out it would be too difficult.

Now read: Airbnb to launch up to 14 new home-sharing buildings by 2020

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Airbnb wants to give hosts stock in the company