Category Archives: Airbnb

Ahead of IPO, Airbnb achieves profitability for second year in a row

Airbnb, which is expected to go public this year, announced today a number of milestones. For starters, Airbnb says it was profitable on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis for the second year in a row in 2018. In Q3 2018, Airbnb said it had its strongest quarter ever, where it saw “substantially more” than $1 billion in revenue. The following quarter, Airbnb found a replacement for former CFO Laurence Tosi, who left amid tension between him and Airbnb CEO Brian Chesky. To […]

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What3Words breaks the world down into phrases

If you’re down in ///joins.slides.predict you may want to visit ///history.writing.closets or, if you’ve got a little money to spend, try the Bananas Foster at ///cattle.excuse.luggage. Either way, don’t forget to stop by ///plotting.nest.reshape before you fly out. If things go what3words way, that’s how you’ll be sending out addresses in the future. Founded by musician Chris Sheldrick and Cambridge mathematician Mohan Ganesalingam, the company has cut the world into three meter boxes that are identified by three words. Totonno’s Pizza in Brooklyn is at ///cats.lots.dame while […]

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Did unicorns like Lyft and Uber wait too long?

It was several years ago, at a tech conference in Laguna Beach, Calif., that the venture capitalist Bill Gurley issued one of what would become repeated warnings that startups were staying private too long. Comparing companies that refuse to go public to undergrads whose college careers extend several years past the point that they should, Gurley suggested they should be embarrassed, not proud, for keeping their shares in private hands. “Until you get liquid, you really haven’t accomplished anything,” Gurley said. Whether Gurley was referring to Uber […]

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Amazon exec Dave Stephenson tapped to lead Airbnb to the public markets

Airbnb has completed a much-needed hire ahead of its rumored 2019 initial public offering. The hospitality giant has brought on as its chief financial officer Dave Stephenson, a long-time Amazon vice president and former president of Big Fish Games. Stephenson replaces the company’s head of global financial planning and analysis, Ellie Mertz, who served as interim head of finance as Airbnb searched for its replacement for former CFO Laurence Tosi. Tosi, who had previously led finance at The Blackstone Group, left Airbnb in February to focus on his […]

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Airbnb made more than $1 billion in revenue last quarter

Ahead of Airbnb’s expected initial public offering next year, the home-sharing startup announced more than $1 billion in revenue during Q3 2018. Airbnb says this was its strongest quarter to date, where it saw “substantially more” than $1 billion in revenue. Airbnb, however, has been without a permanent chief financial officer since February, when Laurence Tosi left the company amid tension between him and Airbnb CEO Brian Chesky. Since then, Airbnb Head of Financial Planning and Analysis Ellie Mertz has been serving as the interim CFO. According to […]

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Travel startups are taking off

The second wave of Internet-era travel companies has captured the attention of venture capitalists. In the last five years, travel companies have raised more than $1 billion in venture capital funding. That includes short-term rental startups, travel and tourism apps, marketplaces for “experiences” and other travel or hospitality tech platforms. Airbnb, a $38 billion company and an anomaly in the category, has raised $3 billion in that same time frame, according to PitchBook. In the last few months alone, aspiring Concur-competitor TripActions and travel activities platform Klook […]

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Alumni Ventures Group is the most active venture fund you’ve never heard of

Alumni Ventures Group’s (AVG) limited partners aren’t endowment or pension funds. Its typical LP is a heart surgeon in Des Moines, Iowa. The firm has both an unorthodox model of fundraising and dealmaking. Across 25 micro funds, AVG is raising and investing upwards of $200 million per year for and in tech startups. Tucked away in Boston, far from the limelight of Silicon Valley, few seem to be paying attention to AVG. There are a few reasons why, and those seem to be working to the firm’s advantage. Today, […]

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Domio just raised $12 million in Series A funding to build ‘apart hotels’ across the US

Hotels can be pricey, and travelers are often forced to leave their rooms for basic things, like food that doesn’t come from the minibar. Yet Airbnb accommodations, which have become the go-to alternative for travelers, can be highly inconsistent. Domio, a two-year-old, New York-based outfit, thinks there’s a third way: apartment hotels, or “apart hotels,” as the company is calling them. The idea is to build a brand that travelers recognize as upscale yet affordable, more tech friendly than boutique hotels and features plenty of square footage, […]

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These are the most successful companies to emerge from Y Combinator

Earlier this month, Brex, a credit card provider to startups, announced it had raised $125 million at a $1.1 billion valuation. The round was impressive for a couple of reasons: The founders are a pair of 22-year-olds that had set out to build a virtual reality company before pivoting to payments, and they had only completed Y Combinator, a well-known Silicon Valley startup accelerator, the year prior. Y Combinator is responsible for many successes in the startup world, certainly more than its fellow accelerators, which are all […]

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TravelPerk grabs $44M to take its pain-free SaaS for business travel global

Only six months ago Barcelona-based TravelPerk bagged a $21 million Series B, off the back of strong momentum for a software as a service platform designed to take a Slack-like chunk out of the administrative tedium of arranging and expensing work trips. Today the founders’ smiles are firmly back in place: TravelPerk has announced a $44 million Series C to keep stoking growth that’s seen it grow from around 20 customers two years ago to approaching 1,500 now. The business itself was only founded at the start of 2015. Investors […]

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