Copyright © 2020 MarketWatch, Inc. All rights reserved. Airbnb is reportedly looking to raise roughly $3 billion for its debut on Wall Street, according to Reuters. Everything you need to know about the market - quick & easy. Kulkarni is bullish on the company, following a recent rebound in business and some cost cutting. Airbnb reported revenue of $1.34 billion for this year’s third quarter -- its second-biggest quarter ever. Investors are wondering if Airbnb can replicate the phenomenal response to another San Francisco app-based company that began trading yesterday. What is more, he predicts year-over-year sales growth of 30% to 60% in 2021. When Asana Inc (NYSE: ASAN), a collaboration software company, went public in September, its stock initially opened at a share price of $27. Don't have a Benzinga account? The financial results show a company on the rebound, but smaller than it was. December 10, 2020. ABNB, A daily collection of all things fintech, interesting developments and market updates. A SPAC has the company going public acquired by a publicly traded entity, then taking its identity in the market. Walt Disney Co. shares have surged recently amid optimism for the company's ambitious streaming targets, and that's reason enough to take a breather on the stock, according to one analyst. Airbnb, founded 12 years ago, has long been expected to go public. Recently on AirTalk. Create one. (CNN Business) Even as the pandemic that wrecked its business flares up again, Airbnb is poised to make its public market debut this year. 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The post IPO News – Airbnb Finally Files to Go Public appeared first on IAM Newswire. So this profit-rich, success-soaked moment is opportune for Airbnb, the vacation-rental "unicorn" that's a heavy favorite to go public by the end of 2020. Airbnb's business was severely hit by the pandemic and the winter projections have been significantly weakened due to the current situation. CEO Brian Chesky: “Travel is never going to look like it did in January” Amy Hinote. The two rented out their San Francisco apartment to three guests in town for a conference. Jon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Starting off, AirBNB is planning to go public on Thursday with an offering of 56,551,723 shares. Disney’s stock gets a downgrade as company begins the ‘hard part’ of meeting subscriber goals, FDA committee to meet again Thursday for Moderna's COVID-19 vaccine, 'Cyberpunk 2077' developer to offer refunds, Why toys, cannabis and fast food could be winning stock themes for 2021, say these analysts, Gold will disappoint investors in 2021 — here’s why the bulls’ arguments don’t hold up, Moderna's shares are up as FDA says COVID-19 vaccine is 'highly effective'. Airbnb is taking a very bold step by issuing a multi billion dollar IPO during a global economic slowdown – something that was unthinkable a few years ago. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. DoorDash closed at US$189.51 after going public … In a note Friday, MKM Partners analyst Rohit Kulkarni believes the San Francisco-based company could kick off its IPO roadshow after Thanksgiving and possibly start trading as a public company in the second week of December. This is how Snowflake became the biggest company to ever double its value on its opening day. This will have it offering its shares on the … Airbnb’s listing comes a day after another San Francisco-based company, DoorDash, soared through it initial public offering, the second largest after Airbnb… Image by InstagramFOTOGRAFIN from Pixabay, Posted-In: Airbnb IAM NewswireEarnings News Offerings Economics Markets General, Thank you for subscribing! But Airbnb had some strategic advantages, the first being its tech-based business model. reported revenue of $1.34 billion for this year’s third quarter -- its second-biggest quarter ever. It still helps … Some of those "gems" are worth billions or tens of billions of dollars, and many investors are looking forward to taking a piece of that action. Airbnb filed for its long-awaited public offering on Monday, shedding light on its past performance and trajectory. Airbnb’s listing comes a day after another San Francisco-based company, DoorDash, soared through it initial public offering, the second largest after Airbnb… Airbnb Inc. said Thursday it plans to go public in 2020, a long-awaited move by the home-sharing company that is both loved and reviled for its disruption of the hotel business. Going by traditional corporate finance practice standards, Airbnb’s decision to go public was nothing less than maverick. This is still a drop of nearly 18% in revenue compared to the same quarter last year. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. There have been 67 SPAC offerings so far in 2020 . Become a KPCC Sponsor. Now, with revenue down and the travel industry in tatters, it’s finally taking the plunge. Good thing, too (for Airbnb). NEW YORK – Home-sharing company Airbnb said Thursday it plans to go public in 2020. Robinhood, the free stock trading app which became the first widely used broker to offer zero-fee trading, with a current valuation of $11.2B, is also expected to move from private to the public market in 2020, as well as DoorDash, the food delivery app; Wish, an e-commerce company; and Bumble, an online dating app — second to Tinder in popularity. Its … Airbnb Is Going Public. By Daniel Friedman - December 07, 2020. Airbnb’s IPO decision in a sea of business gloom. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com. A few weeks ago, we took at look at Doordash's S-1 filing. In a turn of fortune, Airbnb today announced that it has filed to go public, albeit confidentially. Airbnb's second-quarter results plummeted due to countless booking cancellations and other pandemic-related impacts, leading to a net loss of $575.6 million. That was 22% above the reference price of $21, which was set by the NYSE. This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. Palantir Technologies Inc (NYSE: PLTR), a data-mining company, also went public in September, with an initial valuation of $22B. Internal discussions about Airbnb trading on the stock market are under way at the home-sharing behemoth, Axios reported Tuesday, and Airbnb co-founder and CEO Brian Chesky told … 2020 has been a bumper year for companies interested in going public. Kulkarni predicts Airbnb's 2021 bookings could exceed 2019 levels. Airbnb Is Going Public Today. When Airbnb goes public, its price will be above its current 409 (a) (you hope). Airbnb, a vacation rental online marketplace company based in San Francisco, California, filed for an initial public offering on Monday. Even before the COVID-19 pandemic, Airbnb didn't exactly have clear skies leading to its IPO. It reached a market cap of close to $75 billion. This profit in the third quarter was a result of severe cost-cutting measures, which revealed just how much had the pandemic devasted the online booking and rental business. Most eyes in the tech IPO market are trained on Airbnb Inc. And its timing has attracted extraordinary attention. Airbnb considered going public in 2018. Its CEO, Brian Chesky, told the Associated Press this summer that he was … According to its S-1, Airbnb has 4 million hosts in 220 countries listing 5.6 million “active listings” on its platform, with 29% of its “Nights and Experiences” and 41% of its revenue coming from North America. Heading into mid-December, the major stock market indices are near or at all time highs, making it an attractive time for private companies to raise capital by listing their shares on public markets. The move puts the home-sharing service on a path to a public … COVID-19 made that journey even bumpier with a detrimental effect on the entire travel industry. IAM Newswire does not hold any position in the mentioned companies. If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com. Thursday, November 5: Airbnb is expected to make its SEC filing public next week. In a note Friday, MKM Partners analyst Rohit Kulkarni believes the San Francisco-based company could kick off its IPO roadshow after Thanksgiving and possibly start trading as … It’s a long-awaited move for the San Francisco company, which … The Bottom Line on Airbnb … CEO Brian Chesky: “Travel is never going to look like it did in January” Airbnb Goes Public. Follow him on Twitter @jswartz. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Financially fragile Americans during COVID-19 have difficulty answering these 15 money questions — can you. Airbnb begins a new chapter in its story with today’s Wall Street debut. But, despite a raging pandemic, Airbnb is poised to make its public debut this year. December 11, … Asana's valuation was $3.99 billion. It was expected to start with a share price between $75 and $85, but the company went public at $120, skyrocketing to $300 during its first day of trading. whose richly anticipated public offering could raise as much as $1 billion before the end of the year. Airbnb is one of several prominent deals, including DoorDash and Bumble, that are expected to begin trading later this year or into 2021. Airbnb filed to go public today, bringing the well-known unicorn one step closer to being a public company. Perhaps the most eagerly awaited IPO is by Airbnb which filed to go public on Monday. Airbnb Goes Public. If they do not survive this crisis and without new hosts, Airbnb's business model is threatened. Airbnb is moving ahead with plans to go public just months after the pandemic upended the travel industry and forced the startup to lay off a quarter of its workforce. -3.04%, Although recent vaccine developments are favorable, recovery will take time. The company filed its long-awaited IPO … California’s 2020 Wildfires Destroyed Many Of The State’s Iconic Trees . Airbnb, which was founded in August 2008, joins a clutch of companies going public during a year marked by tumult and uncertainty created by COVID-19. This gave them the idea that people could rent out their homes to tourists wanting a more local perspective. Tuesday, November 10: Airbnb’s public filing is expected to be delayed until next week. The day is finally here. The company decided to trade on the Nasdaq exchange and chose the ticker symbol ABNB. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. Nevertheless, the U.S. IPO market has been red-hot, with 232 companies filing to go public — a 19% year-over-year increase from 2019, according to data from Renaissance Capital. The previous year brought us some big news in the world of initial public offerings, like Uber Technologies Inc (NYSE: UBER), LYFT Inc (NASDAQ: LYFT), and Beyond Meat Inc (NASDAQ: BYND). Reports suggest that the decision is related to the ongoing election coverage that could overshadow the filing. Even though 2020 is drastically different than any other year in modern history due to a global pandemic, it is also a year in which many perspective companies are expected to transfer from the private to the public market. Its competitors Expedia Group Inc (NASDAQ: EXPE) and Booking Holdings Inc (NASDAQ: BKNG) reported similar results, with a 58% and 48% annual drop in their respective revenues. Especially if you have NSOs (where the spread between the exercise cost and current price is subject to ordinary income tax), this lower price can mean a much lower tax bill. Also, Airbnb's model relies on the hosts who use their platform to offer their properties for rent. The future of travel still remains uncertain as the fear of an even worse winter wave is upon the world. Airbnb IPO: The Business In 2007, friends Brian Chesky and Joe Gebbia came up with the idea for Airbnb. Snowflake Inc (NYSE: SNOW), the cloud-based data warehousing company, allowing its users to store, share and transfer data between multiple platforms like Microsoft Corporation's (NASDAQ: MSFT) Azure, Alphabet Inc's (NASDAQ: GOOG) Cloud, Amazon.com, Inc.'s (NASDAQ: AMZN) AWS, and salesforce.com, inc. (NYSE: CRM), went public in September. Airbnb, the online lodging marketplace that has disrupted the hotel industry, plans to go public on Thursday, ending a volatile year for the company on … The company is going public during the worst global pandemic in a century. Airbnb, a vacation rental online marketplace company based in San Francisco, California, filed for an initial public offering on Monday. It should not be construed as investment advice at any time please read the full disclosure .