Airbnb Hit an Important Milestone Last Year. Can it Keep Up Growth in 2023?
Airbnb (NASDAQ: ABNB) is a disruptor in the travel industry as its online platform for booking condo and vacation rentals gives people many options to choose from (beyond just hotels) when it comes to choosing a place to stay.
But it's initial public offering (IPO) in 2020 came at a horrible time, in the midst of a pandemic. Revenue that year would end up declining due to COVID-19, and its net loss would total a massive $4.6 billion, which was more than its top line.
The business has, however, been improving since, and last year it hit a milestone, one that could mark an important turning point for Airbnb. The company's operations are now profitable, and that can make it a more tenable investment to a wider pool of investors. Plus, it could drastically improve its valuation.
Source Fool.com
