Airbnb S-1 (Part 1): So How Profitable Is This Thing Really?
View from Seed
NOVEMBER 18, 2020
Sales and marketing has been 30%+ basically forever, though undoubtedly Airbnb has enough brand recognition and loyal customers that if you turned off marketing spend then revenue would drop but not to zero. Uber is an $85B+ market cap company today but is essentially flat to its IPO price and late private round valuations.
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