Brian Chesky Airbnb CEO

Summary List Placement

After months of anticipation, Airbnb made its initial public offering documents publicly available on Monday, providing the most detailed look yet at the company’s inner financial workings.

Airbnb’s prospectus reveals a revenue of $2.52 billion and a net loss of $696.9 million for the first 9 months of the year.

Airbnb, last privately valued at $18 billion, according to The Wall Street Journal, confidentially filed to go public in September and enters a red-hot IPO market in what will likely be one of the largest offerings this year.

The company’s decision ends speculation over how the pandemic would affect its IPO timeline, and will likely alleviate some of the pressure it has faced for years from employees whose stock options were set to start expiring this November if the company didn’t go public.

Pandemic perils

Airbnb has had a long and at times bumpy road to its IPO, particularly during the past several months as the coronavirus pandemic wreaked havoc on the travel industry. Monday’s filing comes amid record new COVID-19 cases in the United States. 

Read more: Airbnb’s Brian Chesky says what it was like to watch his company’s revenue plunge 80% in eight weeks and how …read more


Source:: Businessinsider – Finance

      

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