Airbnb S-1 (Part 1): So How Profitable Is This Thing Really?
View from Seed
NOVEMBER 18, 2020
Airbnb convinced travelers to part with 100% of their booking cost up front and then they pay out the required amount to hosts when the stay actually occurs. The straight cost of revenue line is only ~25% of revenue implying a 75% gross margin, assuming you were looking at this in a simplistic revenue / COGS / gross profit manner.
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