For the next four days, all we’ll talk about is AirBNB.
The most anticipated IPO of the year, if not the decade, debuts on Dec 10, 2020.
The Prospectus starts with a story — how two people turned a concept into an experience built on “connection”. And what a connection they’ve forged over the years! With almost $38billion in gross bookings in 2019, the company is giving 100 year hotel brands a run for their money.
I’ll admit I was skeptical. I’ve since reconsidered seeing AirBNB’s phenomenal response to the crisis this year. With a valuation of $30bln, I see a bargain with valuation crossing $53bln in two years; that’s my math.
While speculators will no doubt drive momentum over fundamentals, there’s still a strong story once the dust settles.