New story
October 7 11:57

Airbnb CEO: Tokyo Olympics could 'really help put Airbnb on the map' in Japan

As Airbnb is heading for an IPO next year, CEO Brian Chesky believes the 2020 Summer Olympics in Tokyo will help it grow its Japanese profile.
In his interview with Nikkei, Chesky said the company has been generating cash flow for a number of years in a row. “We’re not burning money and we have raised a sizeable amount,” he stressed, adding the company does not need to raise more money through a public listing planned for next year, as Airbnb has announced last month.
This comment could end the speculation regarding Airbnb’s plans to sell existing shares to investors through a direct listing rather than issuing new shares through an initial public offering . Airbnb Inc has last month reported revenue of more than $1 billion for the second quarter of 2019, according to Reuters. The company also said it passed a milestone of having more than 7 million Airbnb listings in over 100,000 cities around the world. Reuters previously reported that Airbnb’s revenue for all of 2017 topped $2.5 billion, a more than 50 percent increase over 2016.
While the company has previously said that its 2017 and 2018 earnings before interest, taxes, depreciation, and amortisation (EBITDA) were positive, it has not shared any details on profitability for the second quarter of 2019.
Last week, Airbnb has launched Animal Experiences, a new marketplace allowing people to better understand animals through caring.