Airbnb disclosed its IPO paperwork Monday afternoon, setting up what should be a fascinating comparison, in a few weeks’ time, between the public offerings of the travel firm and DoorDash. Investors will get to choose between one company whose business was slammed by the Covid-19 pandemic, and another that enjoyed a bonanza.
The former, of course, is Airbnb, whose revenue dropped 32% in the first nine months of this year, while DoorDash reported Friday that its revenue rocketed 226% in the same period. With the pandemic now exploding again, and likely to be even more widespread by the time of the offerings, its impact on the two businesses is likely to be on investors’ minds. It’s hard to imagine that it won’t affect how much investors are willing to pay for stock in the companies.