It’s such a straightforward idea but it has taken Airbnb to turn it into a global going concern. Take your spare room, often unoccupied second property or even your main residence when you’re not there and let it out to paying guests for short stays (Miles Costello writes).
Yet the hype and excitement about the flotation of the US room-rental group makes it feel as though it’s a once-in-a-lifetime phenomenon.
The indicative price range for last week’s new issue on the Nasdaq was increased once; the final pricing was higher still and the shares more than doubled on the first day of trading.
Little surprise, perhaps, that the stock has faded a little in the harsh glare of the aftermarket. Tech market bubble, anyone?
Airbnb
