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Airbnb reportedly lost $322 million in the first 9 months of 2019, and it could mean a bumpier path to going public
|February 11, 2020||Posted by TravelKinds.Com under General||
- Airbnb was unprofitable during the first nine months of 2019, The Wall Street Journal reported on Tuesday.
- The report said Airbnb lost $322 million, compared to a $200 million profit during the same period a year prior, and that costs climbed faster than revenue in its third quarter.
- Airbnb’s latest internal audit estimated the company at significantly lower than its previous private valuation of $31 billion, according to the report.
- Sources also told the paper that the coronavirus outbreak, which forced Airbnb to suspend bookings in China, could impact its timing as it looks to go public in 2020.
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Source : BusinessInsider.Com