dsftm

Airbnb plans to file paperwork for a stock market listing in the next few weeks paving the way for its shares to start trading as soon as the fourth quarter, according to people familiar with the matter.
https://fortune.com/2020/08/11/airbn...ng-for-an-ipo/

Antonio8069

Three short months ago, Chesky laid off 1900 - 25 % of AirBnB's workforce: I would be interested what (if any) rights these former ees have in the IPO? Can't wait to hear about the lawsuits!

dynamiteReady

Apparently...

The source is here:
https://news.airbnb.com/a-message-fr...-brian-chesky/

I wonder how much they're valued at?

ravenalive

The last round of private equity funding was reportedly a “down round” at an $18 billion valuation.

https://www.cnbc.com/2020/08/11/airb...his-month.html

i would think it would be challenging to do a successful IPO for this company given the current uncertainty over Covid19, declining revenues, layoffs, operating losses, etc. But they may need an infusion of capital and it could be they think they can do better in the public market than they would by trying to raise another private round. All speculation, I have no first hand knowledge.

dsftm

Actually an AirBnB IPO would be uber successful, as their business has quasi recovered, with AirBnB seeing bookings in smaller cities where people can drive to, unlike the hotel industry.

ravenalive

Revenues were down 67% year over year for the quarter ended June 30. I can’t imagine small markets where people are driving can begin to climb out of that hole, especially with international travel gutted.

https://www.bloomberg.com/news/artic...anned-for-2020

Super Mario

Not that I am obsessed with AirBNB, but you can't seem to take a break from wanting to tell everyone how terrible they are. They are in essence, a travel company. We all know how much travel has been in shambles. For a long-term investment, this has a lot of upside opportunity. Assuming travel bounces back and that this model isn't a failing one are much bigger things to consider than how a travel company performed in the height of COVID.

dsftm

The article also shows progress.. "Airbnb saw more nights booked for U.S. listings between May 17 and June 3 than the same period in 2019, and a similar boost in domestic travel globally"

travelmad478

2Q2020, which included about two months of complete shutdown in the US alone, is not indicative of the future. Plus, revenues down 67% during that time period actually sounds quite good relative to other parts of the travel industry (UA’s revenues were down 87% in 2Q, for instance).

ravenalive

Not my intention at all, i think you misunderstand. I never said they were terrible — I am a big fan of AirBnb. My wife and I have stayed in AirBnb places all over the world (U.S., France, Spain, Caribbean, etc.). We were relatively early adopters and have been very satisfied. I am not knocking the company, just questioning the timing of an IPO and valuation at present given their financials and what’s going on in the world. My initial post re valuation was simply a reply to an earlier question in this thread wondering about the topic — I didn’t bring it up, just responded. Not bashing them at all. I can like a company and its products/services but still question its valuation (Tesla comes to mind). I will be interested to see AirBnb’s results for the quarter ending Sept 30 and to see how they are valued in an IPO.

dsftm

$219 million in net income on revenues of $1.34 billion last quarter.
https://www.cnbc.com/2020/11/16/airb...ing-drops.html