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Airbnb boosts IPO price range as it looks to raise $3.09 billion

8Dec By reutersNo Comments

Market

Airbnb boosts IPO price range as it looks to raise $3.09 billion

California, LA, 8th December 2020: Airbnb Inc expects to raise up to $3.09 billion in a stock market launch later this week after boosting its price range, capping a stunning recovery in its fortunes after it was heavily damaged by the COVID-19 pandemic earlier this year. The U.S. home rental firm plans to sell 51.6 million shares at between $56 and $60 apiece, it said in a regulatory filing on Monday. It had earlier targeted a price range of between $44 and $50 per share for 51.9 million shares. At the upper end of the new range, Airbnb would have a fully diluted valuation, which includes securities such as options and restricted stock units, of $41.8 billion. This is well above the $18 billion Airbnb was worth in an April private fundraising round in the early weeks of the pande...

Airbnb Files For IPO, Submitted Confidential Paperwork

20Aug By AdityaNo Comments

Market

Airbnb Files For IPO, Submitted Confidential Paperwork

Calif, 20th Aug 2020: US-based online rental marketplace platform Airbnb announced that it had submitted confidential paperwork with the US Securities and Exchange Commission for an initial public offering. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The IPO of Airbnb is expected to take place after the SEC completes its review process, subject to market and other conditions. In the recent news reports, Airbnb said they want to go public by the end of the year, in spite of its 40 percent decrease in valuation from $30 billion in 2017, but only at $18 billion this year. Last Month during the layoff, Airbnb Co-Founder and CEO Brian Chesky said, “Out of our 7,500 Airbnb employees, nearly 1,900 teammates will have to l...

Airbnb, NYC agree to end their fight over host data-sharing

13Jun By AnkitaNo Comments

USA

Airbnb, NYC agree to end their fight over host data-sharing

New York, Jun 12, 2020 (AP): Airbnb and New York City will settle their fight over a law that sought to limit housing rental increases by requiring short-term rental platforms to share information about their listings, the two sides announced Friday. Under the agreement, the San Francisco-based Airbnb will dismiss its federal lawsuit against the city and the New York City Council will amend a 2018 law that required home-sharing platforms to provide detailed data on all their listings. Under the amended law, home-sharing companies will still be required to provide information including addresses and names of hosts, but the law will apply only to listings that offer an entire home or that allow three or more guests to stay at one time.The data will have to be provided on a quarterly ba...

Airbnb lay off nearly 1,900 employees, about 25% workforce

6May By PriyankaNo Comments

News

Airbnb lay off nearly 1,900 employees, about 25% workforce

Airbnb, an online marketplace for homestays said it has laid off near 1900 employees, about 25 percent of the workforce of the company. In a note sent to Airbnb employees, Airbnb Co-Founder and CEO Brian Chesky said, "Out of our 7,500 Airbnb employees, nearly 1,900 teammates will have to leave Airbnb, comprising around 25% of our company. Since we cannot afford to do everything that we used to, these cuts had to be mapped to a more focused business. " These decisions are not a reflection of the work from people on these teams, and it does not mean everyone on these teams will be leaving us. Additionally, teams across all of Airbnb will be impacted. Many teams will be reduced in size based on how well they map to where Airbnb is headed, he added. Due to the Covid19, global travel c...

8Apr By AdityaNo Comments

FUNDING

Airbnb Raises $1 Billion in Debt and Equity Funding

Airbnb announced that Silver Lake and Sixth Street Partners will invest $1 billion in Airbnb in a combination of debt and equity securities. The new funding will support Airbnb’s ongoing work to invest over the long term in its community of hosts who share their homes and experiences, as well as the work to serve all stakeholders in the Airbnb community. The desire to explore, connect, have new experiences and have a comfortable place to call home are universal and enduring. And our commitment to create a greater sense of belonging for everyone, everywhere will never change.Brian Chesky, Airbnb Co-Founder, CEO and Head of Community Started in 2008, Airbnb has rapidly grown into a trusted two-sided marketplace that generates real money for millions of regular people who share thei...

1Nov By AdityaNo Comments

FUNDING

Tiqets Raises $60 Million Led by Airbnb

AMSTERDAM, 31st Oct 2019-- Platforms for booking tickets for museums and attractions Tiqets raises Series C financing of $60 million led by Airbnb with continued support from prior lead investors Investion and HPE Growth Capital. Tiqets operates in 60+ countries and connected millions of people to thousands of venues. With this new funding, Tiqets plans to invest in initiatives that accelerate its growth, build richer experiences for customers, and create better tools for its venue partners all in line with its vision of making culture more accessible for all. “Travelers are seeking out a diverse range of experiences when they visit a new city,” said Airbnb Art and Culture Director Philippe Magid. “The Tiqets team has effectively used new technology to connect travelers to commun...

1Apr By reutersNo Comments

FUNDING

Airbnb invests in OYO’s series E funding round

Home-renting company Airbnb has invested in Indian hotel reservation start-up OYO's series E funding round, as it dives deeper into the hotel-booking business. Airbnb did not disclose the details of its investment in OYO, however, as per sources, the round is close to between $100-$200 million. It expects revenue to more than treble every year over the next five years, as it expands locally and in international markets, a senior company executive told Reuters earlier this year."Airbnb's strong global footprints and access to local communities will open up new opportunities for OYO Hotels & Homes..." said Maninder Gulati, global chief strategy officer at OYO Hotels & Home. U.S.-based Airbnb will look at ways to make the OYO accommodation available on its platform, the co...

Airbnb acquires last minute hotel booking platform HotelTonight

8Mar By PriyankaNo Comments

ACQUISITION

Airbnb acquires last minute hotel booking platform HotelTonight

Airbnb, world's leading online room booking platform acquires last minute hotel booking platform HotelTonight. Working with the incredible team at HotelTonight, we will offer guests an unparalleled last-minute travel experience that provides unique, memorable hospitality on every trip, on any schedule, at any time.Brian Chesky, Airbnb Co-Founder, CEO and Head of Community Airbnb is an end-to-end travel platform that combines where you stay, what you do, and how you get there, all in one place. As per their data, more than 400,000 companies are using Airbnb to help manage their travel, and same-day bookings are now growing 2x year over year. HotelTonight is a hotel-booking service focused on making last-minute trips easy and fun, offering guests seamless, on-demand booking for bou...

7Dec By PriyankaNo Comments

INDIA

In a first, Indian Government is Planning To Regularize Online Travel Booking

India government in a first its kind of move will setup certain guidelines for Online travel aggregators like Air B&B, Makemytrip, Yatra and Oyo to be recognised by the Tourism Ministry in order to operate, a senior official said. For the first time, the ministry has prepared a set of guidelines by which it will approve and classify online travel aggregators (OTAs) ensuring reliability of their services. The scheme for approval/re-approval of OTAs will be rolled out online by the end of this month and all applications and fee payment will have to be made on it, the ministry official said. "The scheme will set standards towards accreditation and add value to the dependability and reliability to the aggregators in the online space operating in the organised tourism sector," he a...

Home Renting Firm Airbnb Appoints Amazon veteran as CFO

27Nov By Gauri SinghNo Comments

News

Home Renting Firm Airbnb Appoints Amazon veteran as CFO

Home-renting company Airbnb has hired Amazon veteran Dave Stephenson as chief financial officer (CFO), ahead of a widely anticipated initial public offering next year. Stephenson's departure was followed by the exit of another Amazon veteran, Jason Warnick, who is leaving the e-commerce giant to become CFO at online brokerage startup Robinhood. Stephenson will start in early January, Airbnb said in a statement, and will replace Laurence Tosi, who left the company in February. Stephenson, who has worked at Amazon for 17 years, was most recently vice president and CFO of the online retailer's worldwide consumer organization, which is responsible for all of Amazon's global website sales including its Prime service. Airbnb, valued by private investors at $31 billion, has in recent ...

Women Entrepreneurs Earned $20 Billion Using Airbnb

7Mar By Sheldan RungasamyNo Comments

News

Women Entrepreneurs Earned $20 Billion Using Airbnb

To celebrate the upcoming International Women’s Day, an online marketplace and hospitality service Airbnb stated that women hosts using their platform have earned nearly USD 20 billion since its creation in 2008. The American company proudly stated that they are satisfied with their work in women empowerment towards financial, professional and social freedom. “Last year, we were proud to announce that women made $10 billion on Airbnb since the company was founded in 2008. This year, we are thrilled to share that in the past year alone, women have made almost an additional $10 billion and represent more than half of the Airbnb community,” said the statement from Airbnb. The statement revealed that while women earned $10 billion between 2008 and 2017, in the last year alone, women hosts ea...

Airbnb Acquired Background Check Startup Founded by Indians

19Jun By PriyankaNo Comments

ACQUISITION

Airbnb Acquired Background Check Startup Founded by Indians

Leading online lodging service Airbnb is buying a California-based background-check startup founded by three Indian-origin entrepreneurs in 2014 as it seeks to protect its users and hosts from undesirable and fraudulent people. A report in Fortune magazine said Airbnb is buying Trooly, a startup that specialises in technology that helps conduct background checks. Trooly was co-founded by Savi Baveja, Anish Das Sarma and Nilesh Dalvi. According to profiles of the founders on the Trooly website, Baveja, who is also the company's CEO, had previously served as senior partner at the strategy consulting firm Bain & Company, and a member of the Bain Board of Directors. Sarma, the companys Chief Technology Officer, is a gold medalist from IIT and has worked at Google Research and Y...