The first-day surge made Airbnb the 10th best debut in 2020 based on price gain from its IPO.Speculation that it would join one of the major indexes in the next couple years seems to be driving interest, a well-placed source told CNBC'sThe 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.
"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.
Downhill from here. Wayyyy overvalued
carlos_guava
Power of stock market !
1999 bubble Once again !
Bonkers