Airbnb reported tumbling revenue and mounting losses in the second quarter. Revenue fell to $335 million in the last quarter, Bloomberg reported. That’s down at least 67% from the more than $1 billion the company reported in the same period last year, a shift that reflects the magnitude of the impact of the pandemic on global travel.
- The good news: Airbnb saw more nights booked for U.S. listings between May 17 and June 3 than the same period in 2019, and a similar boost in domestic travel globally. The company plans to file paperwork to go public in the next few weeks, paving the way for its shares to be trading as soon as the fourth quarter. [Bloomberg]