Today, Airibnb released its prospectus to debut on public markets. Compared to last year's revenue of $1.74 billion, last quarter totaled $1.34 billion, with $219 million in net income. The 19% drop is a clear indicator of COVID-19's impact on the travel and leisure industry, whose competitors are listed on the prospectus as Hilton, Marriott, Craigslist, Trivago, Google, Expedia Group, TripAdvisor, and Bookings Holdings.
The anticipated IPO will feature 3 classes of stock: A for 1 vote each, B for 20 votes each has the founders and early investors, and H for 0 votes each has mostly longtime hosts.
The travel industry has an estimated net loss of $443 billion since March, but Airbnb has rebounded with a debt raise and a rally in revenues through new-found popularity in rural rental properties.
The company said it plans to trade under the symbol "ABNB" on the Nasdaq.
Check out the full SEC S-1 prospectus, here.
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