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Photo illustration: Axios Visuals

Airbnb is rolling out new equity grants and a cash bonus program to appease employees' impatience over the company's long-awaited IPO, which could be as soon as June 30, 2019, a source tells Axios.

Why it matters: Startups have benefitted from the plentiful availability of late-stage capital to remain private longer. The downside is that long-time employees become restless, especially if they have few opportunities to sell their stock.

The Information first reported Airbnb's compensation news.

In February, Airbnb CEO Brian Chesky made clear that the company will not go public this year, on the same day he announced the departure of finance chief Laurence Tosi. The company's recent moves, such as adding an independent board director and announcing an annual stakeholder report, further fueled rumors it was on the verge of making the jump.

Employee compensation changes:

  • The company will dole out cash bonuses based on company performance this year and in 2019.
  • New equity grants will now start vesting quarterly instead of the traditional one-year cliff.
  • Employees will also have the option to take some of their new equity grants in the form of cash instead.

But, but, but: Airbnb still needs to fill crucial executive positions, including chief financial officer, before it can go public. The company aims to go public by late 2020 at the latest, which is when some equity grants expire.

Go deeper

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
3 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.

Why made-for-TV moments matter during the pandemic

Photo illustration: Sarah Grillo/Axios. Photos: Erin Schaff-Pool, Biden Inaugural Committee via Getty Images

In a world where most Americans are isolated and forced to laugh, cry and mourn without friends or family by their side, viral moments can offer critical opportunities to unite the country or divide it.

Driving the news: President Biden's inauguration was produced to create several made-for-social viral moments, a tactic similar to what the Democratic National Committee and the Biden campaign pulled off during the Democratic National Convention.