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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

Brian Chesky, CEO and Co-founder of Airbnb, speaks to the Economic Club of New York at a luncheon at the New York Stock Exchange (NYSE) in New York, U.S. March 13, 2017. REUTERS/Mike Segar

  • 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.
  • Visit Business Insider’s read more >>>

    Source : BusinessInsider.Com





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