{"id":123835,"date":"2020-12-01T18:29:33","date_gmt":"2020-12-01T15:29:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/airbnb-seeks-valuation-up-to-35-bn-in-ipo-filing\/"},"modified":"2020-12-01T18:29:33","modified_gmt":"2020-12-01T15:29:33","slug":"airbnb-seeks-valuation-up-to-35-bn-in-ipo-filing","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/airbnb-seeks-valuation-up-to-35-bn-in-ipo-filing\/","title":{"rendered":"#Airbnb seeks valuation up to $35 bn in IPO filing"},"content":{"rendered":"

“#Airbnb seeks valuation up to $35 bn in IPO filing<\/strong>”<\/p>\n

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\"Airbnb
\n Airbnb moved closer to a stock market debut with an updated filing seeking a valuation up to $35 billion
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Airbnb is seeking to raise some $2.6 billion in its upcoming share offering, which could give the home-sharing giant a valuation as high as $35 billion, an updated regulatory filing showed Tuesday.<\/p>\n

The California group said its initial public offering would include some 51.9 million shares in a range of $44 to $50.<\/p>\n

The latest filing app<\/a>eared to confirm an upbeat outlook for Airbnb, which has claimed its home-sharing model has proved resilient during the global coronavirus pandemic with travel<\/a>ers seeking safer lodgings and avoiding crowded hotels.<\/p>\n

Airbnb offered no date for the start of trading, which is expected sometime this month under the trading symbol ABNB.<\/p>\n

The company may still update its offering price, but at current levels the valuation would be as much as $35 billion including restricted stock and options. The IPO would raise between $2.1 billion and $2.6 billion at the current range.<\/p>\n

The San Francisco-based startup released details of its finances last month as part of its regulatory filing. <\/p>\n

It delivered a $219 million profit in the three months ending in September, but nonetheless lost $697 million in the first nine months of the year amid a 32 percent revenue drop as the Covid-19 outbreak crushed the travel sector.<\/p>\n

Airbnb revenue slipped to $2.5 billion in the first nine months of 2020 from $3.7 billion a year earlier. Its losses for the nine-month period were roughly in line with last year’s level.<\/p>\n

The company has had mostly losing quarters, according to the filing, but has reported profits in the third quarter of each year from 2018.<\/p>\n

But Airbnb said its unique business model has proven to be valuable both for hosts and travelers seeking a safe environment during the global health crisis.\n <\/p>\n\n

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Airbnb details years of losses ahead of planned IPO\n <\/p><\/div>\n

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\n \u00a9 2020 AFP<\/p>\n

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Citation<\/strong>:
\n Airbnb seeks valuation up to $35 bn in IPO filing (2020, December 1)
\n retrieved 1 December 2020
\n from https:\/\/techxplore.com\/news<\/a>\/2020-12-airbnb-valuation-bn-ipo.html<\/p>\n

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