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 (12,796 Point) · 2020-08-15 14:08 · Views 10724
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
    JSA DMZ TOUR

    Are you dare enough to have JSA/DMZ tour, the most dangerous place on the Korean peninsula?

    “The Panmunjom is the most dangerous place on the Korean peninsula,” said the JSA guards-to-military MP “Do not wave your hands to the North Korean forces or act irritatingly.” In...
    Read More
    SNSD

    SNSD the biggest change since their debut

    Girls’ Generation, the longest KPOP girl group in Korea, celebrates its 10th anniversary this year and is the biggest change since their debut. Get Booking your own KPOP private Tour...
    Read More
    ISLAND FEST BOMB 2017

    The ISLAND FEST BOMB 2017

    The ISLAND FEST BOMB 2017 organized by Playce Camp Jeju will be held on October 20 and 21 for two days. ISLAND FEST BOMB is one of the year-round content...
    Read More
    Itaewon Global Village Festival

    The Itaewon Global Village Festival 2017

    The 2017 Itaewon Global Village Festival will be held at Itaewon Tourism Zone for two days from this Saturday(October 14) to Sunday(October 15). The parade of the Ministry of National...
    Read More
    King Sejong the great main

    Hangeul Day special, 10 unknown episodes of ‘King Sejong the Great’

    Today, Hangul Proclamation Day is a memorial commemorating King Sejong the Great, the creation of Hangul in order to relieve the people’s frustration. Hangeul has been known to be a...
    Read More
    Incheon Songdo Light Festival

    Incheon Songdo Light Festival – Urban Night Garden

    Incheon Free Economic Zone Authority (Chung Jang Yong Kim Jin-Yong) will work with Incheon Tourism Corporation (President Chae Hong-ki) in Songdo Central Park, a famous spot of IFEZ (Incheon Free...
    Read More
    Oh Yeon-seo

    Actress Oh Yeon-seo, How come she is 31?

    Actress Oh Yeon-seo revealed a flawless appearance that she had been doing her job for ten days during the Golden Week holidays. Recently, actress Oh Yeon-seo gave a lively show...
    Read More
    BIGBANG

    Seungri and Sandara Park together in Philippines

    Big Bang member Seungri becomes DJ on Boracay Island, Philippines. According to local media, the victory will go on DJing as a special guest on N.H.R. label, not the big...
    Read More
    ROK Marine Corps

    Real DOTS show off their bodies – ROK Marines

    The body of South Korean marines is reminiscent of the ancient statue of a Greek sculptor. On 3rd October, Facebook page ‘Korea Marine Corps’ has’ Mr. Black dragon pictorial cut...
    Read More
    1 238 239 240 241 242 250