Airbnb debuted on the NY stock exchange and its shares doubled propelling the company to about a $100 billion valuation. Airbnb is now worth more than Marriot, Delta Airlines, and Hilton combined! 🤯
BREAKING: Airbnb shares more than double in price as the home sharing company makes its long-awaited debut on Nasdaq. https://t.co/vk2CGQwjL7— The Associated Press (@AP) December 10, 2020
Just a few months ago, Airbnb's revenue dropped by 32% in the wake of the Covid-19 pandemic and was even forced to lay off a quarter of its staff.
But as the travel and hospitality industry is still recovering from the impact, Airbnb is on a roll, reporting a profitable third quarter and returning to domestic growth 😎.
But what really drove these valuations? 🤔
This week, the U.K. became the first country in the world to begin using a clinically authorized vaccine with the EU and the United States expected to follow soon. Airbnb could benefit from a resurgence in business and recreational travel if these measures can halt the pandemic.
Airbnbs have made it possible for people to access homes in remote and exotic locations. It gained even more popularity this year as offices closed and employees worked remotely.
@Airbnb made its public debut yesterday & its shares skyrocketed 135% on first day of trading.— Hrishikesh Pardeshi (@hrishiptweets) December 11, 2020
The travel company has benefitted heavily from a newly emerging lifestyle - 'Work from Anywhere' 🌎
📈 Some insights from its November survey...
It's easy to understand how Airbnb would benefit from the remote working trend. Millennials will log in from a faraway beach, a ski resort, or wherever they like to go. Staying longer-term allows them to escape daily routines, be close to loved ones, be in nature, or save money staying somewhere with a lower cost of living.
Airbnb also has a distinct advantage over hotels since it provides access to kitchens, flexible stays, and a wide selection of prices and options, which makes it easy for remote workers to meet their needs.
What do you think about Airbnb's stellar IPO?