The Airbnb title ended its session, for its first day on the New York Stock Exchange, at 145 dollars, the equivalent of 119 euros, more than double the IPO price. The Bloomberg agency estimates the weight of the company now at $ 100 billion on the stock market. Airbnb was looking for new money to grow. It is rather a success.
This stock market introduction is a new step for the American company. Founded thirteen years ago in San Francisco, Airbnb has revolutionized the hotel and travel industry, tourism and business, to the chagrin of traditional hoteliers. At the time, in 2007, a serious global financial crisis began and the more the months went by, the more the idea of finding temporary, and less expensive accommodation became essential. The idea is also to earn a little money by renting even one room. This quickly attracted a very large audience, guaranteed success for the small business created by two young friends helped by a computer scientist.
The crisis we are going through today is radically different. As much as that of 2007 created needs, as much, the coronavirus pandemic which strikes thirteen years later handicaps the activity of Airbnb, between drastic health measures, confinement and plunge in travel and tourism. Since January, the company has seen its turnover fall by more than a third and has had to lay off 25% of its workforce.
The markets are looking further. First, despite the current difficulties, Airbnb currently has 825 million customers worldwide. Then, investors say to themselves that the anti-Covid vaccine which is emerging will help the resumption of activity. Finally, they also like companies capable of achieving strong growth without requiring high capital, unlike large traditional groups. This is ultimately the strength of these new kind of companies in times of crisis and the example of Airbnb is significant.