In the summer of 2018, several Airbnb employees jointly wrote a letter asking the company to allow employees to sell shares in advance, or IPO as soon as possible.
What makes these employees anxious is that if they cannot exercise their rights as soon as possible within two years, their stocks will become worthless, and the dream of achieving financial freedom as soon as possible will be shattered. (Airbnb ’s two employee stocks will be completely invalid from November 2020 to mid-2021)
Fortunately, at the end of September 2019, Airbnb’s official announcement company will choose to go public in 2020, when the valuation has exceeded US $ 31 billion.
Unfortunately, time is changing. After New Crown Pneumonia became the biggest “black swan” event in 2020 and the global tourism industry suffered a major impact, Airbnb also entered a difficult survival mode.
At present, Airbnb ’s internal valuation has been lowered to US $ 26 billion. (much lower than the previous valuation of US $ 31 billion at the time of the 2017 round of financing) span>. The accumulated losses are millions of dollars.
In order to survive, Airbnb ceased all advertising, the founders suspended their salaries, and executive salaries were reduced by half.
What makes Airbnb employees anxious may not be the stock that is about to expire, but the looming threat of layoffs.
The valuation has shrunk by 16%
With a valuation of 26 billion US dollars, shrinking by 16%? This is probably the best prediction.
Before the outbreak, the price of Airbnb stock traded on the market was $ 140 / share, with a valuation of about $ 45 billion to $ 47 billion. As soon as the epidemic hit, “$ 105 / share” was valued at US $ 31 billion, or even lower.
Lead Edge Capital partner Mitchell Green earlier received a call from a stockbroker who wanted to sell part of Airbnb ’s stock at a valuation of $ 30 billion.
Mitchell Green told the other party: “Wait until the valuation drops to $ 10 billion.”
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