Looks like Lukezic made the best decision of his life to retire from running after all! His company is now worth $1.3 billion.
I don't think it is "his" company if he isn't mentioned in the article. But yes, he's doing better then Alan Webb these days.
Do you see him on the list of founders?http://www.airbnb.com/founding-team
AirWhat? wrote:
http://www.ft.com/intl/cms/s/2/57986920-b4d1-11e0-a21d-00144feabdc0.html?ftcamp=rss#axzz1TGZatOPuLooks like Lukezic made the best decision of his life to retire from running after all! His company is now worth $1.3 billion.
Even if he isn't a founder, he definitely got in early enough to make a killing. Well done!
It's an awesome site, btw. I book with them all the time when traveling overseas.
Many Men wrote:
Even if he isn't a founder, he definitely got in early enough to make a killing. Well done!
Make a killing on what? It is still a privately held company, with no publicly traded stock. No IPO yet.
The money they have raised is from venture capital firms - THOSE are the folks that are going to be getting paid when the IPO is issued.
They are "valued" at $1 BN, not that they've made that. They've booked about 2 million nights in their 3 years - if they make $20 a night (which might be generous), that only puts them at $60 million dollars of actual income.
This isn't a billion dollar company yet. In fact, it's a long way to go.
moron
AirWhat? wrote:
http://www.ft.com/intl/cms/s/2/57986920-b4d1-11e0-a21d-00144feabdc0.html?ftcamp=rss#axzz1TGZatOPuLooks like Lukezic made the best decision of his life to retire from running after all! His company is now worth $1.3 billion.
Someone doesnt want others to suceed...
Give me a f*cking break. Nobody would pay a billion dollars for that shitty company.
accounting shennanigans wrote:
Give me a f*cking break. Nobody would pay a billion dollars for that shitty company.
there is an entire industry built around convincing people to pay billions of dollars for shitty companies in IPOs
The Colonel wrote:
I don't think it is "his" company if he isn't mentioned in the article. But yes, he's doing better then Alan Webb these days.
THAN
Thorpedo wrote:
Make a killing on what? It is still a privately held company, with no publicly traded stock. No IPO yet.
The money they have raised is from venture capital firms - THOSE are the folks that are going to be getting paid when the IPO is issued.
They are "valued" at $1 BN, not that they've made that. They've booked about 2 million nights in their 3 years - if they make $20 a night (which might be generous), that only puts them at $60 million dollars of actual income.
This isn't a billion dollar company yet. In fact, it's a long way to go.
This is correct
What your company is worth and how much income it has generated are entirely different things. Let's say you own a house that is valued at 1 million dollars. You rent it out for $10,000 per month. After 3 months, you will have "only" made $30,000. Are you only worth $30,000, neglecting the value of the income-generating asset? Don't be dumb.
The company is worth $1+ Bn.
I put the company at 100-150 million.
Its valuable, but not 'that' valuable. This isn't Facebook, and it does not justify facebook (or Linked In) valuations.
I would say Lukezic is worth maybe a cool million depending on how things turn out. And he shouldn't have quit his running career. He had talent, could have been in the mix these days in the 8 and 15.
Oh, one more thing. The company is obiously passed the seed capital stage. Any VC getting in now is just employing a buy-private-before-IPO strategy. (Google: Venture Capital and facebook). These venture capitalists are simply buying internal shares without a public market. They are buying at the valuation price. So in short, if Lukezic owned 4% of the company, he could sell privately for $52 million to a VC firm that hopes that it can get 65 million (25% return) in a year or so.
I wonder how much AirBnb makes with each night spent at one of these locations. Like as a percentage of the total sale.
Personally, I thought this idea would bomb out when I originally read about it. Now I'm thinking of using the site next time I travel so I don't have to overpay for a hotel or stay in some cheap craphole.
It isn't getting facebook valuations. Facebook is valued at 70 billion.
http://news.cnet.com/8301-1023_3-20074773-93/facebook-valuation-seen-at-
$70-billion/
Linkedin is publicly traded - $9.6 Bn market cap.
Thorpedo wrote:
Make a killing on what? It is still a privately held company, with no publicly traded stock. No IPO yet.
The money they have raised is from venture capital firms - THOSE are the folks that are going to be getting paid when the IPO is issued.
They are "valued" at $1 BN, not that they've made that. They've booked about 2 million nights in their 3 years - if they make $20 a night (which might be generous), that only puts them at $60 million dollars of actual income.
This isn't a billion dollar company yet. In fact, it's a long way to go.
As I recall, an article on the company last November indicated expectations of about one million nights for 2010, with an average of about ten dollars in commissions to the company from each night, for estimated gross annual revenues of about ten million dollars for a company that, at the time, had about 35 employees in San Franciso. I gather that the number of employees now is considerably higher -- perhaps over one hundred -- but I have no idea what the current growth rate or revenue run rate is.
I assume that the quoted valuation of over one billion dollars is based on a deal that gives the latest venture capitalists the rough equivalent of about a 10% equity stake for their investment of over $100 million (although I think it's unlikely that they're merely receiving a percentage of shareholder equity). That, to me, seems like an absurdly high valuation for a company with trailing annual gross revenues of about ten million dollars and negligible or negative trailing net revenues, in an industry that already has significant competitors and seemingly low barriers to entry, but I certainly don't conside myself an expert in these matters. I guess it could turn out to be the ebay of the lodging industry.
lorge wrote:
Someone doesnt want others to suceed...
Especially at spelling.....
lol, Linked In is not worth 9 Billion if Facebook is public, and Facebook is not worth 70 Billion.
After Travelzoo, Airbnb is not worth over a billion.
These IPO's are sucking up all the liquidity the market has and the IPO list is already bloated for the next few months.
Everyone is trying to bring their turd to market, its beautiful, how much this is like the tech boom.
Please, repeat that: "Everyone is trying to bring their turd to market."
"Everyone is trying to bring their turd to market."
"Everyone is trying to bring their turd to market."
"Everyone is trying to bring their turd to market."
Its true.
Avocado, you certainly are no expert. It may be caused by a tech bubble, but current valuations of several companies are in this neighborhood that show no revenue. Twitter has no real revenue stream, and has a much higher valuation. There is a long list of current tech companies moving toward IPOs.