The company is going public at a time when the sector has been battered by reduced-travel trends during the public health crisis. Its revenue shrank nearly 19% last quarter to $1.34 billion compared with the same period a year prior. But it still managed to turn a profit of $219 million and has had other intermittent quarters of profitability.. That could change when vaccines make more widespread travel more accessible again, possibly as soon as late next year.
"Now that people are coming to Airbnb, they don't even necessarily have a destination in mind or dates, because they're flexible. We're all obviously on, and so people are saying, 'I want to go anywhere 300 miles around me, what can you show me?'" he said. "Now we're going to be getting a little bit more into the game of inspiration and matching people to the perfect home experience for them.
Airbnb struggled with complaints from hosts on its platform early in the pandemic when the company granted leniency to guest cancellations, leaving hosts without payments they had come to expect. A Texas-based hostagainst the company last month, alleging Airbnb violated its contract with hosts by offering the refunds. Airbnb called the lawsuit "frivolous and without merit" in a statement at the time.
As part of its IPO, Airbnb has created an endowment fund for hosts consisting of 9.2 million nonvoting shares it set aside. Airbnb said in its"We want hosts to share in our success, not merely for a single moment in time, but for as long as Airbnb exists in the world," the company wrote. "We intend the Host Endowment Fund to be a long-term investment in the future of our host community, to be shaped by hosts for hosts.
jonfortt MikeHudema 7h Cote's d’Ivoire is building schools & domiciles from bricks made of plastic waste. We have the solutions; let's end plastic pollution on the ground and at the source. POINT: We healed ourselves from the Coronavirus. We used the medicinal plants of the Amazon.
jonfortt $Ai is the most attractive to me.
jonfortt They’re both junk up here. Pick em up at $20 when the bubble bursts
jonfortt I like the BNB
jonfortt Gig economy The CNBC fantasy in this bubble market
jonfortt 🙏🏻❤️Can someone help us please! I am a single father of 2. I just claimed my last available unemployment benefits this week. I'm hoping to find a new job or get stimulus to keep a place to stay past 12/31. If you can spare it anything helps 🙏🏻❤️ PLEASE RT
jonfortt Airbnb. Easily
jonfortt Whichever has more money per share.
jonfortt 90% of news about covid and trump
jonfortt Neither