Post by High Priestess on Oct 17, 2019 19:03:16 GMT
Airbnb’s losses doubled year over year in the first quarter to $306 million, as the vacation rental start-up ramps up marketing spend ahead of a possible IPO in 2020, according to a report in The Information.
The company’s sales and marketing investments rose 58% year over year to $367 million in the first quarter and marketing spend is expected to come in above the $1.1 billion spent in 2018, The Information said, citing undisclosed financial data. Revenue reportedly grew 31% year over year to $839 million, while expenses climbed 47%.