Korea Travel Forum

Plan the perfect trip to South Korea; share your story, KPOP things, ask a question, earn your points

HaB Korea Forum

Plan the perfect trip to South Korea; share your story, KPOP things, ask a question, earn your points

Airbnb may go public during its most uncertain period in history

Airbnb plans to file for an IPO in August, according to a Wall Street Journal report. That means we could see a listing sometime this year, though the exact timeline will depend on the Security and Exchange Commission’s review process and how the market looks. Per the Journal, the company has tapped Morgan Stanley to lead the offering, with Goldman Sachs “playing a key role.”

The news comes at a time when Airbnb faces high costs and extra hurdles due to COVID-19. The home-sharing giant lost hundreds of millions after the pandemic ground travel to a halt and caused bookings to tank in cities around the world. The company had to issue millions in refunds to hosts whose guests canceled their stays.

Airbnb was valued at $18 billion back in April — a significant drop from the $31 billion price tag it garnered during its last fundraising round in 2017. The company raised $1 billion in funding during its April round, with a steep price tag including an interest rate of 10 percent and (reportedly) a verbal commitment to reduce fixed costs and strengthen management. (Still, the extra funds could help the company weather the pandemic.) In May, the company laid off a quarter of its employees and pumped the brakes on plans to expand into TV and transportation.

Even before COVID-19 slammed the US, things weren’t looking great. Airbnb racked up a $322 million loss in the first nine months of 2019.

Airbnb has rebounded somewhat, however: bookings have begun to increase year over year.

Bookings are trending more toward locations within 200 miles of the customers’ homes, indicating that customers have been shifting vacations to domestic stays (unsurprising, given travel restrictions worldwide) and preferring car travel over flights.

Airbnb declined to comment for this story.

Source: https://www.theverge.com/2020/8/12/21364874/airbnb-public-ipo-2020-date-rumor-coronavirus-covid19-pandemic
HaB Korea.net HaB Korea.net (12,346 Point) · 2020-08-15 14:08 · Views 5551
Total 0

    Tour and Activity Search

    Find your perfect tour or activity

    Tour and Activity Search

    Find your perfect tour or activity

    Popular Tour Packages

    Discover the best Korea tours and activities

    Magazine HaB Korea

    Korea tour guide and reveiw

    SBS’ ‘Taxi Driver’ to offer catharsis through justice served against criminals

    5 / 5 ( 1 vote ) The new SBS series Taxi Driver The new SBS series, “Taxi Driver,” is set to air starting Friday, delivering hard-boiled action and a...
    Read More

    Jeju Olle Trail named one of world’s top 10 coastal walks

    5 / 5 ( 2 votes ) Jeju Olle Trail named one of world’s top 10 coastal walks Jeju Olle Trail on Jeju Island has been selected one of the...
    Read More
    Korea COVID-19

    South Korea to ease quarantine guidelines for overseas arrivals

    5 / 5 ( 4 votes ) South Korea to ease quarantine guidelines for overseas arrivals The travel industry expressed its support for the revision of the law, which includes...
    Read More

    YG Entertainment Announces to Hold a Global Audition for a New Boy Group

    5 / 5 ( 2 votes ) YG Entertainment Global Audition One of Korea’s largest management agencies YG Entertainment is holding a global audition for a new boy group. On...
    Read More

    Chilean TV channel apologizes over racist jokes about BTS

    5 / 5 ( 1 vote ) Apologizes over racist jokes about BTS Only about a month after a German radio host came under fire for his racist comment on...
    Read More

    ‘Dynamite’ sets KPOP mark for longest stay on Billboard Hot 100

    5 / 5 ( 4 votes ) ‘Dynamite’ sets the longest stay on Billboard Hot 100 The digital single “Dynamite” by K-pop megastar BTS has made history as the longest-charting...
    Read More

    3 Hidden Gem honeymoon destinations in Korea

    5 / 5 ( 2 votes ) Best 3 hidden honeymoon destinations in Korea Many soon-to-be-married couples have been choosing domestic destinations for their honeymoons, while the prolonged COVID-19 pandemic...
    Read More

    Busan One Asia Festival, K-pop fest to kick off online next month

    5 / 5 ( 1 vote ) Busan One Asia Festival 2021 The Busan One Asia Festival (BOF), a major annual K-pop event, will kick off online next month in...
    Read More

    ‘We feel grief and anger’: BTS criticizes anti-Asian racism

    5 / 5 ( 1 vote ) BTS criticizes anti-Asian racism “We feel grief and anger,” Joining the widening “Stop Asian Hate” movement, triggered by the recent deadly shootings in...
    Read More
    1 2 3 241
    Send this to a friend