Airbnb Turns Its First Profit

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Airbnb Turns Its First Profit

Airbnb recorded quite the achievement late last year: reaching profitability, according to Bloomberg. The $30 billion room-booking giant reportedly turned its first profit in the second half of 2016 and expects to continue that profitability into 2017, before interest, taxes and amortization.

Airbnb

This is great news for both the company and its investors, as Airbnb has long been included in conversations around the hottest upcoming IPOs. Although it has not yet announced a timeline of when it might go public—many expect the company to hold off until it concludes its many ongoing legal battles—profitability will undoubtedly be valued highly once it does take that dive.

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Another great sign to public investors? Airbnb saw its revenues jump by over 80% in 2016, per Bloomberg.

Earlier this week, news broke that the company was in advanced talks to acquire payments company Tilt. It’s been rumored that Airbnb is looking to expand its product offering before pursuing an IPO, and the acquisition of Tilt has the potential to add key financial functionalities.

Airbnb has raised over $3 billion in venture funding from Sequoia, Greylock Partners, Andreessen Horowitz, General Atlantic and many, many others. See more key info in the company’s free profile.

[Related: Lyft may beat Uber in race to profitability]

Article by Mikey Tom, PitchBook

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