Airbnb lost $322 million in the first nine months of 2019 according to a report, and it could mean a bumpier path to going public
Brian Chesky, CEO and Co-founder of Airbnb, speaks to the Economic Club of New York at a luncheon at the New York Stock Exchange in New YorkAirbnb was unprofitable during the first nine months of 2019, according to a report Tuesday from theThe report said Airbnb lost $322 million, compared to a $200 million profit during the same period a year prior, and that costs climbed faster than revenue in its third quarter.
Airbnb's latest internal audit estimated the company at significantly lower than its previous private valuation of $31 billion, according to the report. Sources also told the paper that the coronavirus outbreak, which forced Airbnb to suspend bookings in China, could impact its timing as it looks to go public in 2020.The multibillion-dollar travel company reportedly lost money during the first nine months of last year, according to a report published by theThe report said Airbnb posted a net loss of $322 million through September 2019, after making a profit of $200 million the previous year.
That could give pause to investors, many of whom have become wary of businesses without a clear path to profit after last year's crop of money-losing
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