Like many hospitality corporations, Airbnb has struggled within the pandemic due to fewer vacationers. Co-Founder Brian Chesky said in August that the corporate had misplaced some $1 billion in bookings because of the coronavirus, main it to put off almost 2,000 staffers even because it invested in new choices together with virtual experiences.
Regardless of the monetary woes, Airbnb had its IPO debut on the Nasdaq this morning with its inventory closing at $144.71 per share, up roughly 112.81% from its unique worth of $68 a share. In an interview with CNBC forward of its IPO, Chesky mentioned the corporate is “getting a bit bit extra into the sport of inspiration and matching individuals to the proper residence expertise for them,” given the altering methods vacationers are reserving journeys within the pandemic.
In response to COMvergence estimates, Airbnb spent a whole of $36 million—$18 million of which was in digital—on measured media within the U.S. final yr.
The appointment continues Droga5’s latest win streak. The company picked up Petco’s creative account from Anomaly with no overview final month and, in April, it picked up each Maserati’s global creative enterprise and Allstate’s creative account.