Key Points
- Airbnb has over $3 billion on its balance sheet, according to a person familiar with the matter.
- The company has never touched its $1 billion line of credit, the person said.
- Earlier on Thursday, a report showed that Airbnb’s losses doubled from a year earlier in the first quarter.
Airbnb, the room-sharing site that plans to go public next year, has more than $3 billion on its balance sheet, according to a person familiar with the matter.
Following a report from the Information earlier on Thursday, which showed the company’s loss doubled in the first quarter from a year earlier, Airbnb’s cash position could soothe investors concerned that the company is poised to be the next WeWork.
Following a report from the Information earlier on Thursday, which showed the company’s loss doubled in the first quarter from a year earlier, Airbnb’s cash position could soothe investors concerned that the company is poised to be the next WeWork.
RSK: This is not where Air-BNB wants to believe me! WeWork has awoken many an investor!
Ken Notes: TOTALLY different asset, Airbnb does not own, lease, or manage the properties it markets. It is valued based on client base and the percentage it takes for bookings and managing the financial transactions. The only risk is competition and it currently dominates the market.
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- - Volume: 7 - WEEK: 43 Date: 10/22/2019 9:05:22 AM -