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Equity

Equity shot: Airbnb's IPO is finally here

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 16 November 2020

⏱️ 13 minutes

🧾️ Download transcript

Summary

Today we have an Equity Shot for you about Airbnb's S-1 filing, as it looks to go public before the year is out. First we get into Airbnb's macro performance, which shows a stable picture historical revenue growth. There is a ton of numbers to get to so get ready for a quick dive into net revenue, gross margins, and losses. Then we discuss the dramatic drop in bookings, the promising comeback, and if short-term travel is Airbnb's future. There's a weird quarter of profitability that you should all know about, and a heads up on what to look for in Q4 numbers. Finally, we talk about the bullish and bearish case on Airbnb, which poetically filed the same day that Moderna announced a promising vaccine trial.

Transcript

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0:00.0

Hey everybody. This is Alex. Hey, it's Natasha. And we are here to talk just for a second about

0:06.0

Extra Crunch, Tech Crunchy subscription product. Extra Crunch is where a lot of our best analysis and follow-up stories lives. We focus a lot on startups, building, and even

0:16.5

poke fun here and there.

0:18.5

It's true. I also write a daily column called The Exchange that's over on Extra Crunch

0:22.2

and the good news is if you don't have

0:24.1

EC access yet we have a deal for you. Yes you can use I think the best code there

0:29.7

is so don't tell anyone who doesn't listen to equity because they're not invited the code is equity all caps for 50% off your extra crunch subscription

0:39.2

So head over to tech Tech Ranch. Hello and welcome to our equity shot on AirB&B's S1. I'm Natasha Mascarinus and joining me is no other than

1:11.1

Alex Willem Tech Crunchches resident IPO expert Alex how do you feel?

1:16.7

I thought we agreed on IPO Queen before we started this.

1:19.9

I thought that was the mutually agreed upon term.

1:23.0

So I'm good, I just feel mislabeled now.

1:25.2

I'm a little bit like a non-gap Ip you expert apparently.

1:28.0

Oh no, the IPO jokes are already beginning.

1:32.0

You know, the filing just landed. We have a story out from

1:35.2

Alex, a story coming from Danny, which is why he's not on the pod yet. He might make a

1:39.6

guest appearance, I don't know. But we thought it would be great to get our lovely equity listeners,

1:45.8

the numbers, the kind of grade on Airbnb and what's next. And so Alex maybe you can

1:52.1

start us off by setting the scene on how you're feeling about your first glance with the numbers, first draft out.

1:58.0

What's the story so far?

2:00.0

Well, I was incredibly excited for one, just to point this out.

2:03.2

Like, you know, I feel like we've been talking about the Airbnb IPO.

...

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