Airbnb demonstrated its strength in a year that changed travel around the world. Today, he needs to demonstrate that he can satisfy the highest wishes of financial experts. The San Francisco-based home-sharing organization gave a winning presentation in the public market on Thursday. Its offers closed at $ 144.71 each, more than double the $ 68 figure Airbnb had set. The final cost gave the organization an assessment of just over $ 100 billion. Offers are being exchanged on the Nasdaq Stock Exchange under the image “ABNB”.
Instead of the conventional ringing of the bell before the day of the exchange, Airbnb presented a video of Airbnb from all over the world ringing its bell. In a video message, CEO Brian Chesky also expressed gratitude to the many visitors who stayed on his posts. In 2019 alone, 54 million visitors remained on an Airbnb.
Airbnb’s post comes a day after another San Francisco-based organization, DoorDash, took off with its first share sale, the second largest after Airbnb. DoorDash shares jumped 85.8%, closing at $ 189.51. The order for transportation to dinner raised $ 3.4 billion with his contribution. Airbnb needs to add more features and properties, grow in business sectors like India, China and Latin America and attract new visitors.
The Start
To begin, he must recover. Airbnb – which never released an annual benefit – said its revenue fell 32%, to $ 2.5 billion in the first nine months of this year, because Covid forced explorers to give up their arrangements. The organization postponed its IPO – initially made arrangements for the spring – and supported the tasks with $ 2 billion in credits. In May, Airbnb cut 1,900 representatives – or 25% of its workforce – and ended unidentified projects with its business centre, similar to creating films.
However, in the months that followed, Airbnb’s business recovered faster than accommodation, as travellers felt more secure in booking private homes in busy centres during the pandemic. Airbnb said the number of nights and scheduled meetings, which fell 72% in April compared to the previous year’s levels, fell 20% in September. Airbnb appeared in meetings – from cooking classes to riding exercises – in 2016.
It could also increase its contributions even further in boutique inns, as it spurred the 2019 acquisition of hosting provider Hotel Tonight a minute ago. Chesky said that focusing on notable properties – alongside extraordinary skills and encounters – will help the organization win.
The Finance
Chesky and Gebbia were looking for an approach to finance their condo. Just as a planning meeting was arriving in the city and the inns were full, they set up a location and rented pneumatic beds. They have three buyers. In 2008, they formed an organization with Nate Blecharczyk, a product engineer. Sharing the house was nothing new. VRBO was dispatched in 1995. Booking.com, another more experienced opponent based in Amsterdam, mainly offers accommodation but has also extended to vacation rentals.
What Airbnb did otherwise was to focus on moderation, allowing hosts to rent rooms and sofa beds, said Tarik Dogru, an associate professor at Dedman College of Hospitality at Florida State University who examines Airbnb. Visitors wandered around the neighbourhoods more than they would if they stayed in the accommodation.