Airbnb lost millions in revenue due to the coronavirus, IPO filing reveals

Airbnb filed for an initial public offering on Monday, released its prospectus, and indicated it will trade on the Nasdaq exchange under the ticker symbol ABNB.

The prospectus gives a deep look at Airbnb’s business, particularly just how hard the platform has been hit by the coronavirus pandemic. As part of the filing, Airbnb says its business will continue to be affected by people scaling back travel as the virus continues to spread. Under risk factors, the company said the pandemic “and the impact of actions to mitigate the Covid-19 pandemic have materially adversely impacted and will continue to materially adversely impact our business, results of operations, and financial condition.”

The company has seen annual net losses every year...

Continue reading…