Airbnb filed its prospectus on Monday as it seeks to debut on NASDAQ under the ticker symbol “ABNB,” according to the company’s S-1 filling. The company’s revenues fell nearly 19% to $1.34 billion last quarter, generating a $219 million net income. Despite the losses, Airbnb had profitable quarters, including Q2 and Q3 of 2018 and Q3 of 2019, to cement its public market debut.
- Airbnb is building a community around its hosts and guests and has set up 9.2 million shares of non-voting stock in an endowment fund for them.
- The company will issue Class A, B, and H stocks on the listing.
- Airbnb announced a $250 million coronavirus relief fund in March, returning 25% of what guests would have received under their cancellation policies, but many claimed they did not get it.
- In November, Airbnb faced a proposed class-action lawsuit by one of its hosts that it violated its contracts when it enforced the extenuating circumstances policy
- In FY 2020, Airbnb recorded a loss of $697 million so far on revenues of $2.52 billion due to the impacts of the COVID-19 pandemic.
Airbnb is #41 on the 2020 CNBC Disruptor 50 list and the only startup to appear on the list eight times
