Housing rental site Airbnb has published its results for the planned public offering in December. The company, according to documents from the lower the results, as a result of the COVID-19 tourism came to a virtual standstill, but also an expected recovery in the long term.
Airbnb reported a turnover of $ 2.5 billion over the first nine months of the year. That is considerably less than the 3.7 billion dollars earned a year earlier. In addition, under the line there was a deficit of nearly $ 700 million, which after the first nine months of 2019 was a minus of $ 323 million.
It is expected that the demand for small accommodations offered by Airbnb will pick up when the crisis has largely been overcome. Airbnb is also said to be performing better than many of its fellow-sector members who are also suffering from the pandemic.
Airbnb’s IPO is expected to be one of the largest this year and the largest IPO at Tech Fair Nasdaq since Facebook’s IPO in 2012. The housing rental site could benefit from the recovery on the financial markets which began in the second half of the year, assisted by fiscal and monetary support measures, in its stock exchange debut.
Airbnb wants to raise at least $ 1 billion with the IPO, depending on the demand for the pieces. Insiders say the target is up to $ 3 billion. The rating of Airbnb cannot yet be determined, as the company will later come out with conditions and other details about the IPO.
It is estimated that Airbnb is currently worth some 18 billion dollars. That is considerably less than the USD 31 billion price that Airbnb had at its peak at the end of 2017.