Airbnb Going Public - Nasdaq IPO
Airbnb With a Possible $35 billion Valuation Source: Airbnb Fast, Dramatic Turnaround from COVID-19 Business Hit Airbnb, the San Francisco based home rental company, will debut on the Nasdaq on December 10, aiming for a valuation of $35 billion. It along with DoorDash (my blog 10/30) are expected to be blockbuster U.S. IPO's to close out the year. Airbnb was devastated by the COVID-19 pandemic. As travel came to a halt, Airbnb had to layoff 25% of its workforce and get $2 billion in emergency funding from investors. As people started traveling again in Q3 2020, the company's business turned around and it scored a surprise profit for Q3. Two new trends moved the company forward. People opted to book homes rather than hotels. And, they preferred to book a home away from major cities. Entrepreneurial Success Story Airbnb was founded as a website in 2008 by two entrepreneurs: Brian Chesky and Joe Gebbia. They started t