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Airbnb continues to report losses of hundreds of millions of dollars

Prior to the planned IPO date, Airbnb is said to have lost about $ 322 million in the first nine months of last year, according to a report by The Wall Street Journal. This makes investors doubt the company’s own valuation before listing this year. According to a source close to the company, its profits were down by about $ 200 million compared to a year earlier.

The source cited in the report also said that although Airbnb’s third-quarter revenue was also the highest-ever profitable quarter for Airbnb, the net loss was due to increased management and technical costs. .

Airbnb is said to have lost about $ 322 million in the first nine months of last year.

These losses could affect Airbnb’s valuation as it is scheduled to IPO this year. At the last round of funding in 2017, the company was valued at $ 31 billion. Although it didn’t disclose the latest valuation, The Wall Street Journal reported that Airbnb’s most recent private valuation is much lower.

The company announced to the press last year that it expects to become a public company by 2020.

Airbnb continues to report losses of hundreds of millions of dollars | ICT News

At the last round of funding in 2017, Airbnb was valued at $ 31 billion.

A report by The Wall Street Journal said that Airbnb must wait at least until the third quarter of this year to IPO. At this time the world economy is being affected by the coronavirus outbreak from China. For Airbnb, China is one of the most important growth areas. The company’s co-founder, Mr. Nathan Blecharchot, currently serves as chairman of Airbnb China.

Currently Airbnb has not responded to the report.

[ Æsir Tales ]
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