Airbnb files to go public
Airbnb files for its long-awaited IPO for $1 Billion and planning to trade under the symbols "ABNB" on the Nasdaq.
Unlike other tech unicorns, it's been profitable in several quarters over the last couple of years. The revelation was included in the short-term rental company's 250-page filing with the US Securities and Exchange Commission on Monday.
During the third quarter of this year, Airbnb made $219 million in profit on revenue of $1.34 billion. Despite the positive outlook, those numbers are down nearly 19% from the same time last year when it reported $227 million in profit on revenue of $1.65 billion. The third quarter is the only quarter Airbnb made a profit so far this year.