Many large companies repurchase their own equity, slowly decreasing their float and concentrating earnings per share. After all, the billion dollar facility wasn’t put together by VCs. That means that at least two of the decacorn crop are in decent to robust health Dropbox is in far better control of its destiny having reached that particular financial milestone, and Airbnb has all the access to cash that it should need to get itself to a public offering.ĭoes that mean that Airbnb is ready to pull the trigger? I haven’t heard that, but the firm likely now has stronger ties to banks that might want to take a piece of its eventual IPO business. The greater context of this is Dropbox’s recent disclosure that it is free cashflow positive. Many unicorns have been, and are willing to burn at a far quicker clip. ![]() The accumulated loss is even more surprising. ![]() According to Bloomberg, the well-funded startup has added a $1 billion debt facility to its collection of financial tools.Īlso notable in that report is the following: “Airbnb has lost less than $250 million since it started in 2008, and it generated roughly $1 billion in revenue last year, a person familiar with the matter said.” According to prior reporting, that figure should represent net revenue, and not GMV. ![]() Off we prance.Īirbnb is in better financial shape than you might have thought. The latter is a slightly contentious topic, but one that matters in our broader discussion about how we should vet companies’ maturity, and performance. ![]() Today we observe that for the second time in a mere pair of days a unicorn has made positive noise about its financial health, and we’re taking the shortest of looks at buybacks. It’s a little known fact that this is how all VCs see themselves in the mirror each morning.
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