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    Airbnb Inc (ABNB)

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    Airbnb, Inc. operates a global platform that connects hosts and guests to book unique stays and experiences worldwide. The company's marketplace model facilitates these connections online or through mobile devices, allowing hosts to offer spaces and experiences that enable guests to engage with communities authentically . Airbnb's primary revenue source is service fees charged to customers for stays and experiences booked on its platform. These fees are calculated as a percentage of the booking value, excluding taxes, and vary based on factors such as booking value, duration, geography, and host type . In 2023, Airbnb reported a revenue of $9.9 billion, marking an 18% increase from the previous year, primarily driven by a 14% increase in Nights and Experiences Booked and higher average daily rates .

    1. Stays - Facilitates the booking of accommodations worldwide, allowing hosts to offer unique spaces for guests to stay.
    2. Experiences - Offers a platform for booking activities and experiences that enable guests to engage with local communities and cultures.
    NamePositionStart DateShort Bio
    Brian CheskyChief Executive Officer, Co-Founder, and Chairman of the Board2008Brian Chesky co-founded Airbnb, Inc. in 2008 and serves as the company's Chief Executive Officer, Co-Founder, and Chairman of the Board. He holds a Bachelor of Fine Arts in Industrial Design from the Rhode Island School of Design .
    Nathan BlecharczykChief Strategy Officer, Chairman of Airbnb China, Co-Founder, and Director2008Nathan Blecharczyk co-founded Airbnb in 2008 and currently serves as the Chief Strategy Officer, Chairman of Airbnb China, and a member of the board of directors. He holds a Bachelor of Arts in Computer Science from Harvard University .
    Elinor MertzChief Financial OfficerMarch 1, 2024Elinor Mertz has served as the Chief Financial Officer of Airbnb, Inc. since March 1, 2024. Prior to this role, she was the Vice President of Finance at Airbnb from January 2019 .
    Aristotle BaloghChief Technology OfficerNovember 2018Aristotle Balogh has served as the Chief Technology Officer of Airbnb, Inc. since November 2018. Before joining Airbnb, he was the Vice President of Engineering at Alphabet Inc. .
    1. Given that you removed over 300,000 listings last year to improve quality, reducing supply growth, how do you plan to achieve sufficient supply growth to meet rising demand without compromising on quality, especially in markets where supply is already constrained?
    2. With your core markets comprising about 75% of your gross booking value and expansion markets only about 15% of the remainder, what specific strategies are you implementing to accelerate growth in these new regions, and how will you overcome challenges like local regulations, cultural differences, and competition?
    3. As you plan to aggressively launch new services in over 100 cities next year, how are you managing the risks associated with such a broad rollout, and what measures are in place to ensure these new offerings achieve both scale and profitability without significant additional investments?
    4. Given the anticipated margin compression in Q4 due to increased investments in product development and marketing, how do you plan to balance the need for growth with maintaining profitability, and what are your EBITDA margin targets for the coming years as you expand into new markets and services?
    5. Despite initiatives like the Cohost network to make hosting mainstream, how do you address the potential limitations in attracting new hosts who lack time or resources, and what strategies are in place to ensure the Cohost network can unlock millions of new listings without sacrificing host quality and guest experience?
    Program DetailsProgram 1Program 2
    Approval DateMay 2023 February 2024
    End Date/DurationCompleted Q1 2024 No expiration date
    Total additional amount$2.5 billion $6.0 billion
    Remaining authorization$0 $4.2 billion
    DetailsCompleted Can be modified, suspended, or terminated at any time
    YearAmount Due (Billions)Debt TypeInterest Rate (%)% of Total Debt
    20262.0Convertible Senior Notes0100% = (2.0 / 2.0) * 100

    Competitors mentioned in the company's latest 10K filing.

    • Online travel agencies (OTAs), such as Booking Holdings (including the brands Booking.com, KAYAK, Priceline.com, and Agoda.com)
    • Expedia Group (including the brands Expedia, Vrbo, HomeAway, Hotels.com, Orbitz, and Travelocity)
    • Trip.com Group (including the brands Ctrip.com, Trip.com, Qunar, Tongcheng-eLong, and SkyScanner)
    • Hopper
    • Fliggy (a subsidiary of Alibaba)
    • Despegar
    • MakeMyTrip
    • Internet search engines, such as Google, including its travel search products
    • Baidu
    • Listing and meta search websites, such as TripAdvisor, Trivago, Mafengwo, AllTheRooms.com, Hometogo, Holidu, and Craigslist
    • Hotel chains, such as Marriott, Hilton, Accor, Wyndham, InterContinental, OYO, and Huazhu, as well as boutique hotel chains and independent hotels
    • Property management companies, such as Vacasa, Sonder, Inspirato, Evolve, Awaze, and other regional property management companies
    • Online platforms offering experiences, such as Viator, GetYourGuide, Klook, Traveloka, TUI Musement, and KKDay
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2011 PresentCurrent auditor