The IPO That Everyone Will Be Watching
In August, Airbnb CEO Brian Chesky informed his 305,000-plus Twitter followers that the company he co-founded with two of his roommates was celebrating its 11th anniversary. That date was followed with a belated gift: the company’s second quarter had more than $1 billion in revenue.
It’s been quite the journey for the most-recognizable disruptor in the travel industry whose premise — guests staying in a stranger’s home — was originally dismissed. In fact, in 2014, a Ritz-Carlton leader told Fast Company that she had never even heard of Airbnb.
Fast forward to today, and Airbnb has more than six million listings around the world — more property listings than the six largest hotel groups combined. That growth could enter supercharge mode if the company’s initial public offering — slated for some- time in 2020 — is successful.
As the world waits for Airbnb’s Wall Street check-in, the company has put some of the traditional hotel industry’s most prized audiences — business travelers and events — in its sights.
Airbnb wants business travelers to comprise 30 percent of its bookings by next year — a 15-percent increase from the fall of 2017. And the company recently launched an off-sites and meetings product for teams in need of collaborative spaces.
What will Chesky be tweeting about when the company hits the 12-year mark? Stay tuned.
Sources for graphics: AirDNA statistics of active rental listings on Airbnb and HomeAway as of Sept. 28, 2019 + Cvent’s most recent top list; STR and Tourism Economics