Home sharing company Airbnb is preparing to go public next year and the company revealed that it hit more than $1 billion in revenue during the third quarter of this year.
Airbnb said that this was the company’s strongest quarter to date and pointed out that the company saw “substantially more” than $1 billion in revenue during that period, according to TechCrunch.
On an EBITDA basis, Airbnb is expected to see profitability for the second year in a row reported CNBC. Airbnb posted $100 million in profit on $2.6 billion in revenue last year said CNBC’s sources. Airbnb has raised over $4 billion in funding at a valuation of more than $30 billion so far.
Airbnb has been running without a full-time chief financial officer since Laurence Tosi departed from the company in February. TechCrunch said that this was due to tension between him and Airbnb CEO Brian Chesky.
Airbnb Head of Financial Planning and Analysis Ellie Mertz has been working as the interim CFO since then. But this has many analysts questioning who would take the company public next year.
“Airbnb’s mission is to create a world where anyone can belong anywhere and we will continue to offer updates regarding our work in the weeks and months to come,” said Airbnb in an internal memo via TechCrunch.
AFP pointed out that more than 400 million guests (“arrivals”) were logged at Airbnb locations since the service launched. And the number of Airbnb guests for the third quarter jumped in Beijing, Mexico City, Johannesburg, and Birmingham, England for the third quarter.
And Airbnb is expecting that nearly a million guests will stay in US lodgings booked through the home sharing platform during the Thanksgiving holiday weekend coming up.