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
5 / 5 🥰 👍 (728 votes)

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 (12,617 Point) · 2020-08-15 14:08 · Views 8482
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
    YG and JYP

    New audition TV show “MIXNINE” YG x JYP x SM

    5 / 5 🥰 👍 (1 vote) JTBC’s new audition TV show “MIXNINE” is rising as more details about the program are revealed. “MIXNINE” is a survival program in which YG Entertainment’s founder...
    Read More
    GFRIEND

    GFRIEND has won on THE SHOW Choice

    5 / 5 🥰 👍 (1 vote) GFRIEND has won their first trophy for new song “Summer Rain” on SBS mtv THE SHOW right after their comeback. GFRIEND got 9750 points...
    Read More
    GWANGMYEONG CAVE INTERNATIONAL FANTASY FESTIVAL 01

    The Dream of Gwangmyeong Cave, the Future of Korean Fantasy

    5 / 5 🥰 👍 (1 vote) When asked about the reason of not making fantasy movies, movie professionals might say that the domestic market is relatively small and that...
    Read More
    Korea Fall Season Tour - NAEJANGSAN 01

    Korea autumn foliage 2017 ‘When and where should I go?’

    5 / 5 🥰 👍 (2 votes) 20% of Autumn foliage forecast (Data by K-Weather) Korea autumn foliage 2017 It is enough to take a look at the maple leaves...
    Read More
    BTS new

    The BTS ‘LOVE YOURSELF 承: Her’ has released

    5 / 5 🥰 👍 (3 votes) The BTS ‘LOVE YOURSELF 承: Her’ has released all over the world at 6 pm on September 18. This is a mini album...
    Read More
    RYAN BANG

    Ryan Bang appointed new Honorary Ambassador of Gangwon Tourism

    5 / 5 🥰 👍 (1 vote) On September 15, 2017  South Korea’s Gangwon Province announced on Friday its new Ambassador, TV host and actor Ryan Bang. The Korean national...
    Read More
    BTS life in Seoul

    BTS on Seoul’s promotional video

    5 / 5 🥰 👍 (1 vote) BTS appeared in a video to promote Seoul to attract foreign tourists. An official in Seoul explained that they selected the BTS as...
    Read More

    The First Filipino – Korean collaboration Film ‘You With Me’

    4 / 5 🥰 👍 (8 votes) The First Filipino – Korean collaboration Film ‘You With Me’ Starring Kim Hyun Woo, Jin Ju Hyung and Devon Seron opens September 27...
    Read More

    iKON Bobby takes the first step with a solo singer

    5 / 5 🥰 👍 (1 vote) iKON Bobby takes the first step with a solo singer on the 14th September. YG Entertainment unveiled the “sampler video”, which can be...
    Read More
    1 240 241 242 243 244 248
    Send this to a friend