FILE PHOTO: Airbnb’s logo is seen on a little mini-pyramid, the bottom of the glass Pyramid of the Louvre museum in Paris, France, on March 12, 2019. REUTERS/Charles Platiau/File Photo
(Reuters) – Airbnb Inc., recorded $9.4 billion in the total cost of the reservation value will, in the first quarter, up 31% from the year-ago quarter, a source familiar with the matter said on Friday, a number of which might be very popular with investors as the home is part of the company’s plans have been introduced in the public sector.
The San Francisco-based home-renting company has recorded 91 million nights spent on its platform in the quarter, resulting in the increase of the total price of the reservation value, which measures the transaction of dollars to its platform, the source said.
Airbnb was made for about $3.5 billion in cash on the balance sheet as of 31 March, the source said. The company reported a 40% growth in turnover in 2018, in comparison with the previous year, according to the source.
Airbnb and prepare for the listing in the first half of the 2020s, according to the Wall Street Journal on.wsj.com/2TCKZpc that is the first mention of Airbnb’s first-quarter financials earlier in the day.
This year we had a number of high-profile Ipo’s, such as Uber Inc. and Lyft Inc. but the business is doing badly, following their launch in the middle of the investor’s doubts about the lack of a concrete plan in order to maximize profitability.
WeWork, the owner of The Company, which is preparing for an initial public offering as early as next month, revealed a staggering increase in sales and an increase in losses earlier this month.
Reporting by Ismail Shakil and Nivedita Balu in Bengaluru; Editing by Leslie Adler