Who is Airbnb?
Airbnb is in the business of connection—offering millions of places to stay and tens of thousands of handcrafted activities, all powered by local hosts. An economic empowerment engine, Airbnb has helped millions of hosts delight guests by providing unique travel experiences, entire homes with private amenities, and immersion in local communities while keeping the financial benefits of tourism with the people who make it happen.
With more than 800 million guest arrivals to date, and accessible in 62 languages and dialects across 220+ countries and regions, Airbnb promotes human connection, community, and trust around the world.
Airbnb on Monday filed for a $1 billion initial public offering, which is expected to price in December.
Financials: Airbnb reports nearly a $700 million net loss on $2.5 billion in revenue for the first nine months of 2020, versus a $322 million net loss on $3.7 billion in revenue for the year-earlier period. But it also reports $219 million in profits for the third quarter of 2020.
The company has around $4.5 billion of cash on its balance sheet.
Investors: Airbnb raised around $6.4 billion from venture capital and private equity firms. It was valued at $31 billion in a late 2017 round, but at only $18 billion when it secured an emergency equity and debt round in the pandemic’s early days.
Major shareholders include Silver Lake, Sequoia Capital,, Founders Fund, Accel, DST Global and Greystar Real Estate.
IPO details: Airbnb plans to list on the Nasdaq under ticker symbol ABNB, with Morgan Stanley and Goldman Sachs as lead managers.
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