Layoffs incoming https://www.theinformation.com/articles/airbnb-projects-revenue-could-fall-by-half-this-year
This is really bad for Airbnb. They waited too long to go public. Now they may have to wait another 3 years. They will have to trim their workforce or reduce salary temporary
Paywall
Posted screens. Btw, if you are interested in deep reporting on the tech industry, The Information is totally worth it
That means they will run out of cash by year's end. Sounds like they need to raise another onerous round plus a massive layoff.
If 800m is 15% of spending. Then last year's spending is around 5b. Let's assume they cut 1b from spending. It is 4b spending this year. If revenue becomes 2.6b. that is a 1.4b loss.
Wow, nice analysis ! However the revenue est is 2.2b, that is a 1.8b loss. Probably they need more aggressive cost cutting or fund raising?
Are they looking for jobs already?
Its projection is still too optimistic
Far too optimistic. I doubt that there will be a big rebound in travel this year. The coronavirus curve is flattening, but I think that it's also massively widening as well. I will be surprised if large numbers of people start traveling before 2021.
🎻😢