2/27/2023 0 Comments A world of pain new vegasAnd it is under pressure to complete a listing this year because some of its current and former employees’ shares in the company will otherwise expire. Airbnb has indicated that it planned to go public via an unusual method known as a direct listing, where no new shares are sold. The San Francisco company, valued at $31 billion by private investors, said in September that it planned to go public this year - even though the initial public offering market for high-profile, money-losing start-ups has been rocky. Now Airbnb finds itself on strategically tricky ground. Competitors like followed by moving into rentals of vacation homes. (Airbnb takes a cut of their fee.) Over the years, Airbnb hosts have become increasingly sophisticated, with mini-economies springing up to cater to the hosts’ needs for cleaning and management of the properties. One of the hardest hit may be Airbnb, where millions of hosts have listed their properties for short stays since the company was founded in 2008. “All we’re trying to do is separate what we absolutely believe is the effect of the virus from our ongoing business, so we can prepare ourselves and make that ongoing business as strong as possible when this thing is over.” “It truly is an unknown,” Barry Diller, Expedia’s chairman, said of the coronavirus on an investor call last month.
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