Korea Travel Forum - Ask Anything about South Korea

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 (13,436 Point) · 2020-08-15 14:08 · Views 21560
Total 0

    Tour and Activity Search

    Find your perfect tour or activity
    Clear

    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
    BTS

    BTS will appear on Jimmy Kimmel Live

    BTS will appear on Jimmy Kimmel Live, a famous talk show in the United States. According to Big Hit Entertainment, the company will participate in the “Jimmy Kimmel Live” recording...
    Read More
    BTS new album

    BTS will be the first K – pop group to be on stage at the ‘American Music Awards’

    BTS will be the first K – pop group to be on stage at the ‘American Music Awards’, one of the three awards ceremonies of the US. The American Music...
    Read More
    Visa Free Korea

    Korea allows Visa-free entry, so what’s the catch?

    In order to revitalize the tourism market that the PyeongChang Winter Olympic Games hosted, Korean government will temporarily allow tourists from Southeast Asian countries such as Indonesia, Vietnam, and the...
    Read More
    Korea Visa-free

    Korean government allow Visa-free for Philippines, Indonesia and Vietnam tourists

    During the PyeongChang Winter Olympics, Korean government will allow visa-free groups of Indonesian, Vietnamese and Filipino tourists to vitalize Korea Tourism market. Chinese tourists who board cruise lines designated by...
    Read More

    Zhang Ziyi talks about drone filming

    Chinese actress Zhang Ziyi opened the mouth of Song Joong-Ki and Song Hye-Kyo a wedding drones illegal drone shooting. Zhang Ziyi said on the 3rd November of China’s Sina Weibo....
    Read More
    Seoul Land article

    Popular Autumn tourist spot, Seoul Land

    The number of tourists visiting Seoul Land is increasing. The chrysanthemums in full bloom in autumn, Seoul Land is full of yellow, red chrysanthemum, star-shaped large flower bed, filled with...
    Read More

    Song Joong-ki visited late Kim Ju-hyeok’s mortuary after his wedding

    Actor Song Joong-ki visited late Kim Ju-hyeok’s mortuary after his wedding. Song Joong-ki visited Asan Medical Center on 1st Nov. condole with his family upon Kim Ju-hyeok’s unexpected death by car accident. Song Joong-ki married actoress Song...
    Read More

    Korea Smartphone Photo Contest Winners

    The winner of the Korea Smartphone Photo Contest sponsored by the Hankook Ilbo was decided on Nov 1. The subject was occupied by Lim Jung-hyun’s “Seongsan Ilchulbong”. It was in...
    Read More
    kimchi, festival, korea

    2017 Seoul Kimchi Festival at Seoul Plaza this weekend… 120 tones of kimchi sharing

    [kkstarratings]From November 3rd to 5th, Seoul Kimchi Cultural Festival will be held at Seoul Plaza. This year, the Kimchi Cultural Festival will be expanded to two times compared with last...
    Read More
    1 235 236 237 238 239 251

    Proceed Booking