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Airbnb files preliminary paperwork for public stock offering

Airbnb files preliminary paperwork for public stock offering

Technology
Airbnb has filed preliminary paperwork for selling stock on Wall Street, undaunted by a global pandemic that has taken some wind out of its home-sharing businessBy DEE-ANN DURBIN AP Business WriterAugust 19, 2020, 10:12 PM3 min readShare to FacebookShare to TwitterEmail this article Airbnb on Wednesday filed preliminary paperwork for selling stock on Wall Street, undaunted by a global pandemic that has taken some wind out of its home-sharing business. The San Francisco-based company said it submitted a draft registration statement to the Securities and Exchange Commission. It kept details in the statement confidential. Airbnb said the number of shares in the company it plans to sell and their price hasn’t yet been determined. The timing of the IPO also hasn’t been set. Airbnb, which was fo...

Insider Q&A: Airbnb co-founder and CEO Brian Chesky

Technology
Three months ago, Airbnb co-founder and CEO Brian Chesky was working on the financial filings for the company’s hotly anticipated initial public offeringBy DEE-ANN DURBIN AP Business WriterMay 24, 2020, 5:00 PM4 min read4 min read Three months ago, Airbnb co-founder and CEO Brian Chesky was working on the financial filings for the company’s hotly anticipated initial public offering. He had just returned from Palm Springs, California, and was planning a spring vacation with college pals. But the coronavirus upended global travel — and all his plans. “My world’s gotten really small,” Chesky told The Associated Press from his home in San Francisco, where he's spent the last 10 weeks. Airbnb expects its revenue will be cut in half this year. Chesky recently laid off 25% of Airbnb’s staff — or...
Coronavirus: Airbnb restricts UK bookings to coronavirus keyworkers

Coronavirus: Airbnb restricts UK bookings to coronavirus keyworkers

Technology
Home rental firm Airbnb is to temporarily restrict UK bookings to keyworkers and “essential stays” because of the coronavirus crisis.The firm said that the measure would last until at least 18 April.Keyworkers - such as NHS and social care staff, and transport and food retail employees - can still book through a programme called Frontline Stays. The decision comes after the government criticised opportunistic hosts.The BBC had reported on Monday that some listings were letting customers use the “instant book” function without requiring them to be vetted. At the time, some owners were describing their properties as being "Covid-19 retreats" and "perfect for isolating with family" on the site.Tourism Minister Nigel Huddleston described this as being "irres...
Airbnb hosts defy lockdown laws with ‘Covid-19 retreats’

Airbnb hosts defy lockdown laws with ‘Covid-19 retreats’

Technology
Airbnb hosts advertising properties as coronavirus hideouts are "dangerous and irresponsible", the government says.Owners have listed homes as being "Covid-19 retreats" and "perfect for isolating with family" in the British countryside.New coronavirus laws say holiday accommodation should be provided only to keyworkers needing to self-isolate.But some listings on the site allow instant booking of rentals without any vetting, BBC News discovered.The properties advertised as places to self-isolate include an "idyllic cottage", a houseboat and even a castle.Only one Airbnb host contacted by BBC News said their rental was available solely to keyworkers. But others complained the lockdown had disrupted their business.In response to the BBC News's findings, Tou...
Coronavirus and market volatility shuts down the IPO market for potential listings like Airbnb

Coronavirus and market volatility shuts down the IPO market for potential listings like Airbnb

Finance
Chesnot | Getty ImagesInvestors likely won't get their fix for newly public companies for a long time thanks to the financial turmoil caused by the spreading coronavirus. Logistics issues aside for investment bankers unable to travel, market volatility like this scares off companies who want to raise capital.The initial public offering calendar is looking sparse this year, with many road-show ready companies, like Warner Music, Madewell, Cole Haan and Atotech, pumping the brakes. The highly anticipated IPO for short-term home rental company Airbnb, which said it intended to go public in 2020, could be shelved as the coronavirus dents the travel industry and the economy slips into a recession. "Volatility from the coronavirus outbreak has now essentially shut down the spring IPO m...