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Airbnb will be one otheroverestimated “unicorn,” but it’s no WeWork.

The Data this morningreportednew Airbnb financials — indicating a huge map bigger in working losses — that unswerving now nameAirbnb’sfuture into question. Precisely, Airbnb lost $306 million on operations on $839 million in revenue, namely because advertising and marketing employ, in the first quarter of 2019. In total, Airbnb invested $367 million in sales and advertising and marketing, representing a 58% map bigger year-over-year, in Q1. The firm is gearing up for a serious liquidity occasion next year and is making a concerted effort to rake in new customers, as any quickly-to-be-public industry would.

Given WeWork’sunexpected loss of life,coupled with Uber and Lyft’slukewarm performanceson the inventory markets, many hang wondered how Wall Avenue will acknowledge to Airbnb’s eventual IPO prospectus. Will cash managers hang an appetite for one other over-valued Silicon Valley darling? Or will the market compete care for mad for shares in the broad dwelling-sharing market?

But Airbnb, all over again, is no WeWork, and I wager Wall Avenue could well hang friendlier reach to its providing. For one, Airbnb’s co-founder and chief government officerBrian Cheskyisn’t dropping$60 million on non-public jets— I don’t think. CEO behaviors aside, Airbnb has more capital in the financial institution than it has raised in its total 11-year ancient previous, which is a full lot of money. Right here’s all in step with a source who’s conscious of Airbnb’s financials and shared this ingredient with TechCrunch following The Data’s Thursday morning speak. As for Airbnb, the firm instructed TechCrunch, “we can’t commentary on the figures, but 2019 is a substantial investment year in support of our hosts and friends.”

Airbnb’s CEO Brian Chesky speaks at TechCrunch Disrupt SF 2014

Airbnb has attracted more than $3.5 billion in fairness funding at a $31 billion valuation and hasdiagram morelocked away in its financial institution story. Additionally, Airbnb has an untouched $1 billion credit line, the source talked about. Presumably, the referenced credit line is the 2016 $1 billion debt financing from JPMorgan, CitiGroup,Morgan Stanleyand others.

Furthermore, Airbnb has been “cumulatively” free cash rush along with the circulation obvious for a whereas, which system that it’s considered extra cash coming in than going out all the diagram thru fresh quarters, in step with our source. It has been reported that Airbnb surpassed $1 billion in revenue in the 2nd quarter of 2019 and in the third quarter of 2018, but we’re guessing the industry did no longer prime $1 billion in Q4 of 2018 or Q1 of 2019 because it if had, that data would potentially hang been “leaked.”

At closing,Airbnb has been profitable on an EBITDA(earnings sooner than curiosity, taxes, depreciation and amortization) basis for two consecutive years, the firm announced in January. Wicked bookings, meanwhile, are rising, as is Airbnb’s industry providing and itsexperiences product.

Why does any of this matter, you question?