Nov 16, 2020
Airbnb plans public share sale despite pandemic
While the pandemic hurt the firm's already loss-making business, Airbnb said its model remains resilient. The company reportedly hopes to raise about $3bn by selling shares in the listing, which could value the firm at more than $30bn. More than 4 million hosts list properties on the platform, 86% of which are located outside of the US. Last year, roughly 54 million people reserved stays through the company, which takes a cut of each booking. In 2019, the firm booked losses of more than $674m - a figure it has already surpassed in the first nine months of this year. The firm, which brought in revenue of $4.8bn last year, also warned potential investors that revenue growth had slowed, a trend likely to continue.
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