Airbnb posts record 30% growth in first quarter as bookings bolster

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Airbnb posts record 30% growth in first quarter as bookings bolster

Airbnb Inc., the San Francisco-based online marketplace platform engaged in tourism, house rental, homestays and a many more, had posted a record $9.4 billion in bookings during the first quarter of the year, remarking a steep upstream momentum with bookings’ revenues up by 31 percent from a year earlier, an Airbnb spokesman familiar with the subject-matter had revealed on Friday, the 16th of August 2019, in terms of anonymity.

Besides, as the house-rental and homestay booking service provider had been exploring an option to enter into the public market, latest data would likely to grab a number of potential investors’ attention towards the CA-based online bookings provider.

Apart from that, the source had also revealed that the US-based home rental company had processed bookings of 91 million nights in its online platform during the first quarter, which in effect had led to a solid surge in the company’s entire bookings value., Over and above that, Wall Street Journal had reported earlier that the company had been working out a public listing by the first half of 2020, while the source had been quoted saying on Friday (August 16th) that as of March 31st this year, the San Francisco-based online bookings service provider had a lump-sum of $3.5 billion in net cash at its balance sheet, meanwhile the company also reported a 40% surge in its revenue in 2018 on a year-on-year basis.

Although this year had witnessed multiple high-profile IPOs such as Lyft Inc., Uber Inc, however, recent doldrum of trade war and a growing grudge over geo-political tensions had dampened investors’ optimism, which eventually led to a sharp turnaround of Investors’ outlook, while Airbnb’s IPO would unlikely to proffer a chartbuster outcome unless global trade outlook improved, suggested analysts followed by comments of the Airbnb spokesman on Friday (August 16th).