Airbnb announced on its website plans to make an IPO sometime in 2020, helping eager investors chart out plans for how, and when, they can invest in the home-sharing startup.
Share to twitterAirbnb CEO Brian Chesky speaks at the"Introducing Trips" Reveal at Airbnb Open LA on November 17, 2016 in Los Angeles.to make an IPO sometime in 2020, helping eager investors chart out plans for how, and when, they can invest in the home-sharing startup.valued at more than $30 billion - something that has proven to be a bit of a gift and a curse to tech companies looking to make splashy stock exchange debuts.
The sprint to scale hiring goes hand-in-hand with Airbnb's trajectory as a product - from 2018 until mid-September, ratings submitted at the Google Play App Store skyrocketed, rising nearly 225% to more than 730,000 total in less than a two-year period. The count of Google Play App Store ratings tracks how much users are engaged with a particular product available in an app store by measuring ratings submitted over time - a proxy for adoption and usage.
Compared to some other IPOs - Uber and Lyft, which both lag Airbnb's Google Play average rating today - the home-sharing network's rating is just a cut above. Next to others - like WeWork, whicha rating hovering around"2" out of 5 - Brian Chesky's creation has a public perception in a different galaxy, not just a new zip code.
There's just one problem facing Airbnb - those legacy competitors, who for too long ignored the market dynamic home sharing was creating as a digital business, are now developing their own digital products - and, they're good. Hilton CEO Chris Nassetta, speaking at the Skift Global Forum in midtown Manhattan September 18, said his company considered, market-tested, and ultimatelya direct competitor to Airbnb - however, it still has a digital product of its own. But - Hilton did launch an app of its own, and in the Apple App Store, it has earned a greater number of reviews than Airbnb's app.
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