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Airbnb IPO back on the table

Airbnb has shaken up management and will revive plans to launch an initial public offering, as it continues to see signs of a rebound from heavy coronavirus-related disruption to its business. Greg Greeley will step down as president of Homes, the company’s core accommodation rental business, two years after being recruited from Amazon, the Financial Times reported.

  • Spotting trends: The company said this week it had seen guests place bookings for more than 1 million nights in a single day for the first time since the global pandemic took hold. However, about half of these bookings were for locations less than 300 miles from guests’ homes, and the nightly rate was on average below $100. Earnings for hosts in rural areas were up 25 per cent in June compared to the same period last year. [FT]

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