Brian Chesky, CEO and Co-founder of Airbnb, speaks to the Economic Club of New York at a luncheon at the New York Stock Exchange in New YorkAirbnb was unprofitable during the first nine months of 2019, according to a report Tuesday from theThe report said Airbnb lost $322 million, compared to a $200 million profit during the same period a year prior, and that costs climbed faster than revenue in its third quarter.
Airbnb's latest internal audit estimated the company at significantly lower than its previous private valuation of $31 billion, according to the report. Sources also told the paper that the coronavirus outbreak, which forced Airbnb to suspend bookings in China, could impact its timing as it looks to go public in 2020.The multibillion-dollar travel company reportedly lost money during the first nine months of last year, according to a report published by theThe report said Airbnb posted a net loss of $322 million through September 2019, after making a profit of $200 million the previous year.
That could give pause to investors, many of whom have become wary of businesses without a clear path to profit after last year's crop of money-losing
Out of all the major tech startups, Airbnb has the best chance of making a profit. It doesn’t have an army of employees nor a large asset pool. It probably just needs to better manage its existing programs.
They don’t have a good business model. On multiple occasions I’ve had my reservations cancelled by the owners. Once the day before we arrived. I will never use Airbnb again.
Welcome to the club.
Many unicorns see other unicorns do well and try to jump on. It’s not so easy
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