Home rental service Airbnb has said that due to coronavirus, the company had to take certain actions which has affected the business adversely.
The company’s IPO documents that were publicly revealed recently showed that the company has incurred net losses of $70.0 million, $16.9 million, $674.3 million, and $696.9 million for the years ended December 31, 2017, 2018, and 2019, and nine months ended September 30, 2020, respectively.
It means the company’s revenue growth rate has gone down and thus, it can be said that the company’s growth would be quite slow in the coming years.
If company’s revenue does not better then it may not achieve profits in the long run. However, it seems to have expansion plans and is looking forward to improve its market presence in India.
India along with China, Latin America, Southeast Asia, and many other small markets is where the company is looking positively to enhance its market presence.
By Sahana Iyer
