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$ABNB S-1, quick thoughts
Smallest revenue drop vs internet travel peers
Downward Sales & Marketing %
Truly transformational to our society
Strong market place moat
Possible inflectionViz via @publiccomps: https://bit.ly/3kIvNmx
Expanding on points
COVID decimated travel, so every company has negative growth.Impressive that $ABNB only dropped -20% while the median of the peer group is -53%.
$BKNG
$EXPE
$TRIP
Prior to COVID, it was the fastest-growing:
viz: @publiccomps looking 3 quarters ago
How Airbnb is transformational:
Affects rental, real estate, and travel markets & pricing
So big local governments were/are trying to regulate it
Opened an ecosystem of companies/services to support it
Became a verb: "I Airbnb'ed a cabin this weekend"
Affects rental, real estate, and travel markets & pricing So big local governments were/are trying to regulate it Opened an ecosystem of companies/services to support it Became a verb: "I Airbnb'ed a cabin this weekend"
On moats:
2-sided market places are inherently strong moats whenthe customer often uses a different service provider as they travel to a new destination.
Since travel is global, having inventory gives it a leg up on localized competitors (vs Uber/Doordash)
On Inflection:Multiple revenue acceleration drivers that will be unlocked at different times and bump revenue (hopefully soon and close together
).
Vaccine goes through clinical steps, released and distributed Travel bans lifted Pent up wanderlust
Would love to hear what people think of the above / what are the key metrics/qualities that people look for in this space.
I am not the most informed on internet travel companies but would love to learn
I am not the most informed on internet travel companies but would love to learn
