Airbnb confirmed

[The beef 675] “Nothing like a good fraud scandal to jump start the IPO.” – Jeff Hey there carnivores, Markets were up again after new vaccine data came in from Moderna. Today we’re breaking down Airbnb’s IPO. Keep raging, Jeff & Jason Reservation confirmed We can all agree that most companies (and people) would say this has been the year from hell. But one could argue that nobody has had it worse than Airbnb. Ok, well maybe cruise lines. After hoping to go public earlier this year, the preferred home-rental service of bachelor and bachelorette parties finally submitted its prospectus to the SEC [to debut on public markets](. Sucks to suck, VRBO. ABNB will make its debut on the Nasdaq in the next few weeks, though a specific date was not provided. See what’s inside Along with the prospectus, Airbnb gave investors a look at how the sausage is made. In 2019, the company brought in $4.81B in revenue for the full-year, but still managed to lose $674M. Things haven’t been much better in 2020, as you can imagine. The company has lost $697M on only $2.52B in sales. Thanks ‘rona boi. But there was at least some good news in the prospectus… Airbnb announced that it posted a profit of [$219M on $1.34B of revenue]( last quarter. Of course, that’s 19% less than the same period last year, but who’s counting? But how? The company pivoted from a go-to for college students looking to get their Project X on to a destination for longer-term rentals for those who sought to escape big cities during the pandemic. But it wasn’t all luck and a change of pace. The impressive turnaround was nothing short of a masterclass in survival. ABNB’s tactics included securing $2B in debt financing, laying off nearly a quarter of its staff, and slashing marketing costs. It even watched its valuation get cut in half, raising money via a dreaded down-round. The bottom line… It’s not all five-star reviews for the company’s recovery efforts, though. With the ‘vid disrupting travel in March Airbnb overrode hosts cancellation policies and offered refunds to travelers effected by the sh*storm. The company also set up a $250M relief fund for hosts. $ABNB vowed to pay hosts 25% of their earnings from a cancelled trip. The only issue? Turns out the company had issues executing. Allegedly, at least. But many hosts indicated that they didn’t receive the right amount or any money at all. Earlier this month the company was [hit with a class action lawsuit]( related to the bail out. When reached for comment, Airbnb had this to say: “Please, be my guest, go list your property on Craigslist and see how that turns out.” 📢 Watch Kyle Dennis Trade This LIVE Any Moment Now, Kyle Is Set To Announce His Latest Sniper Report Alert — And He’ll Be Trading It LIVE For Subscribers To See Kyle Opened Up 250 Spots To Gain Access To Sniper Report For A Measly $1 Per Week [Hurry Up And Secure Yours Now]( SEC-ya! SEC Chairman Jay Clayton is [stepping down]( at the end of this year. Clayton’s departure isn’t a surprise, considering the pending changing of the guard in the US. Clayton was appointed by President Trump back in 2017. As Chairman, Clayton was behind some of the SEC’s greatest hits featuring guest appearances from Tesla and Theranos. Oooh, I love Theranos’ early stuff. But before Clayton’s gone, he’s got one more fish to fry… working on a plan to require Chinese companies with US-traded shares to use auditors that US regulators oversee. We want it, we want it back Home Depot is having second thoughts, [buying]( back its HD Supply Holdings unit, which it sold off in 2007. HD is buying that old thang back for $8.7B. Does that include the scorned former lover premium? The move comes as Home Depot looks to bolster its industrial products business, and build on already increased earnings due to the pandemic. A bunch of people sitting around realizing how sh*tty their houses are? I get it. HD Supply distinguishes itself from Home Depot by offering electrical, plumbing, janitorial and other supplies in industrial quantities. Last year, the company brought in $6B. While that seems like a lot, it also just made a sale of its own, giving up its construction arm which made up half its business. It’s unclear if Home Depot actually knows that… Stay Goldman, Gregg Gregg Lemkau, one of Goldman Sachs’ top bankers, is [leaving]( the nest. The co-head of Investment Banking is heading out to be the CEO of MSD Partners. A name you might recognize because it manages Michael Dell’s investment fund. MSD manages more than $15B in assets, including Michael’s pile of cash. Lemkau has been with Goldman since 1992, and advised the likes of Twitter and Uber in their rise to Silicon Valley greatness. From 2013 to 2017, Lemkau ran Goldman’s merger business. In 2017, he was named co-runner of Goldman’s entire investment-banking business. And now, he’ll be the subject of a DJ D-Sol diss track. Push it Fitness app Strava has hit another PR, [raising $110M]( in new funding. The Series F round was led by TCV and Sequoia, and included Madrone Capital Partners, Jackson Square Ventures … and Go4it Capital, which was clearly named by the founder’s pre-schooler. Strava, like many fitness apps and services, has blown up in 2020. According to the firm, it added more than 2M “athletes” per month this year. Just because I decided to start running again, does not make me an athlete. Overall the company has 70M members across 195 countries, globally. Even Vatican City is working up a sweat, pretty impressive. *Results presented are not typical and may vary from person to person. Please see our full disclaimer here: ragingbull.com/disclaimer RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at [(. 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