News

Airbnb files to go public: Here’s what it says are its 6 biggest risk factors

In a huge bet that the global travel industry will one day come roaring back to pre-pandemic life, home-sharing giant Airbnb filed for its initial public offering of stock this afternoon.

The San Fransisco company said in its much-anticipated S-1 filing and prospectus that it lost $697 million in the first nine months of 2020 as the effects of COVID-19 ate into its business. Revenue for that period was $2.5 billion, down more than 30% from the same period last year.

Airbnb says it will trade on the Nasdaq under the ticker symbol ABNB. Its market debut, expected before the end of 2020, would cap a year of hot tech-focused IPOs that have defied the worst economic crisis in more than a decade. In the filing, the company listed what it considered to be the greatest risks to its business, and not surprisingly, COVID was top of mind.

MORE

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s