Airbnb seems to be doing pretty good when it comes to their IPO launch. In fact, they’ve managed to top out well about expectations, for just about everyone. After all, who would have guessed that a home-based vacation service would be able to make it in the middle of a pandemic? But it seems this is just the kind of vacation that people are looking for.
While the company has recently faced a lawsuit from some of their hosts because of early pandemic rules. It seems they’re still coming back strong. Early on in the pandemic the company allowed guests to cancel bookings with far more leniency than they normally would. While this was great for guests who changed their minds (whether because of the pandemic or not) it wasn’t so good for hosts who were expecting the money from those bookings, leading to the lawsuits.
Airbnb, however, says that the lawsuits are frivolous and has continued to push forward instead. It seems so has everyone else, at least if their IPO is to be believed. The company achieved over 112% increase over the course of the day, it’s first on the trading floor. And there’s no telling what could happen as the stock moves into its second day. What we do know, at this point, is that the company has hit one of the best IPO’s on record.
The CEO says that the company is definitely looking at the way that they launch their business and the changing ways that people are looking to use their service. After all, with more people working remotely they’re able to travel more frequently, though they may not be doing it in quite the same ways. In fact, the CEO of the company had something specifically to say about that.
“Now that people are coming to Airbnb, they don’t even necessarily have a destination in mind or dates, because they’re flexible. We’re all obviously on Zoom, and so people are saying, ‘I want to go anywhere 300 miles around me, what can you show me?’” he said. “Now we’re going to be getting a little bit more into the game of inspiration and matching people to the perfect home experience for them.”
Things are definitely off to a good start for the company, and there’s no telling just what might happen for them moving forward with their IPO and as the pandemic starts to ebb.