Airbnb, the world’s biggest and most popular vacation online rental marketplace, highlighted the role of cryptocurrency and blockchain technologies in the company’s success in the future.
In its recently released prospectus filed with the US Securities and Exchange Commission (SEC) for its long-awaited IPO, the company gave an in-depth insight on the role cryptos, blockchain will play.
“Our future success will also depend on our ability to adapt to emerging technologies such as tokenization, cryptocurrencies, new authentication technologies, such as biometrics, distributed ledger and blockchain technologies, artificial intelligence, virtual and augmented reality, and cloud technologies. As a result, we intend to continue to spend significant resources maintaining, developing, and enhancing our technologies and platform.”
Blockchain is arguably the next big thing after the emergence of electricity and the internet. It has started transforming businesses at an unimaginable rate, and those who have not been using the technology are now trying hard to get acquainted, master, and apply it to their organizational processes.
What you should know: Airbnb is an online marketplace that allows individuals to let out their apartments or spare rooms to intended guests, at prices often lower than hotels.
A few days ago, Experts revealed how Airbnb released its prospectus to debut on the Nasdaq Stock Exchange.
- In its prospectus, the company put an emphasis on building a community around its hosts and guests, positioning that community as a differentiating factor from its competitors.
- The company said it would set up 9.2 million shares of non-voting stock aside in an endowment fund for hosts.
- Airbnb via its detailed prospectus revealed it made $219 million in net income on revenues of $1.34 billion last quarter. That was unsurprisingly lower than $1.65 billion in revenue a year prior.
- Airbnb plans to trade under the symbol “ABNB” on the Nasdaq.