- The biggest spending increase came in Q1’20 due to the company offering refunds to customers who canceled bookings due to lockdowns. The single largest expenditure was a $114M restructuring charge, which likely includes severance packages. Its stock-based compensation grew by 147% to $79M YoY.
- Thanks to a high-interest debt round, the company still has $4.1B in cash as it prepares for an IPO in which it hopes to raise $3B at an implied $30B valuation.
- The company had achieved $231M in adjusted earnings by 2018 but lost $253M in 2019, indicating that its costs began growing before the pandemic hit.
- The company recently turned down an offer by Bill Ackman to go public via a merger with his SPAC Pershing Square Tontine Holdings.
- The company has raised $5.4B and was most recently valued at $18B.
- From Twitter: Adam Singer of Think3 sees a parable for all highly-valued tech companies in Airbnb’s story: