Airbnb lost $322 million between January and September last year:
Airbnb might have more problems to deal with as it plans to go public this year. The popular travel company reportedly lost major cash during the first nine months of 2019, the Wall Street Journal has said. According to the report, Airbnb posted a net loss of $322 million through September 2019, after making a $200 profit in 2018.
The journal also said even if the company’s revenue rose to $1.65 billion in the third quarter, up $400 million from the year before, costs grew quicker.
Recall that Airbnb recently said it plans to become a public company sometime this year but that could be the 3rd quarter at the earliest if the timing is not even affected by the current coronavirus outbreak China is battling with.
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Airbnb is yet to react to the Wall Street Journal’s report.