City watchdog probes Airbnb ahead of New York float November 22, 2020 The UK’s financial watchdog is investigating Airbnb over concerns about the tech firm’s anti-money laundering and counter-terrorist financing systems. The Financial Conduct Authority last year called on UK electronic money institutions to review their compliance on safeguarding customer funds. Airbnb Payments UK (APUK) told the City watchdog that it had identified gaps in its compliance [...]
Airbnb reveals deeper loss ahead of stock market float November 17, 2020 Airbnb today revealed it has suffered deeper losses this year as a result of the Covid-19 pandemic, as it unveiled the prospectus for its eagerly-awaited stock market listing. The holiday rental company posted a loss of $697m (£527m) on revenue of $2.5bn in the nine months to the end of September, a widening of the [...]
Airbnb suspends 800 party houses in crackdown on antisocial behaviour November 6, 2020 Airbnb has suspended more than 800 UK property listings as part of a crackdown on party houses. More than 13,500 booking requests have also been blocked as part of a pilot to prevent under-25s to rent homes close to where they live in a bid to stop anti-social behaviour. Airbnb removed listings that have received [...]
Airbnb to go public ‘as early as next week’ November 5, 2020 Airbnb is set to make its initial public offering (IPO) listing as early as next week, according to reports, as the home rental company attempts to cash in on investor wanderlust during the pandemic. Airbnb has laid out plans to set an IPO price range in December, according to Reuters. The firm last month suggested [...]
Airbnb aims to raise roughly $3bn in IPO October 3, 2020 Home rental company Airbnb is aiming to raise around $3bn in its upcoming initial public offering (IPO), people familiar with the matter said on Friday, taking advantage of the unexpectedly sharp recovery in its business after the Covid-19 pandemic roiled the travel industry. Airbnb will be one of the largest and most anticipated US stock [...]
Green shoots of recovery in the IPO market September 23, 2020 | City Talk IPOs of all shapes and sizes were understandably shelved by the turmoil in global markets in the first half of the year. It would be a brave company that would launch their newly-listed firm into a global stock market that was in the midst of its biggest and most dramatic rout in years. It is [...]
Businesses have done a good job as emergency policy makers – but they must not get complacent September 14, 2020 Government policy and regulation must at times play catch-up with reality. In recent times, this has been especially prevalent with the social and digital media giants, who have enjoyed free rein while policy makers struggle to work out how to deal with the potential harms they bring. But if we thought that the rise and [...]
Airbnb restricts UK bookings to key workers due to coronavirus April 9, 2020 Airbnb has blocked UK bookings for all customers except key workers during the coronavirus lockdown. UK listings still appear on the platform however bookings were blocked from 9am today unless they are essential. The restrictions will stay in place until at least 18 April. Under the government lockdown restrictions, all hotels and other accommodation providers [...]
Airbnb set to swing to a loss ahead of 2020 market debut February 11, 2020 Holiday letting platform Airbnb reportedly swung to a loss last year, raising concerns ahead of its planned initial public offering (IPO) later this year. The tech giant reported a $322m (£248.65m) net loss in the nine months to September as costs spiked, down from $200m profit the previous year, the Wall Street Journal reported. Airbnb [...]
Airbnb bans under-25s from booking ‘party houses’ after violence February 6, 2020 Airbnb has launched a crackdown on young people booking entire properties in a bid to prevent house parties from descending into violence. The new rules have been rolled out in Canada as part of a trial programme, though the company did not say whether it will be extended to other countries. It comes after a [...]