Energy News  
INTERNET SPACE
Airbnb rules out 2018 share offering, shakes up ranks
by Staff Writers
San Francisco (AFP) Feb 1, 2018


Homesharing giant Airbnb said Thursday it won't launch a share offering in 2018 as it announced key changes in its leadership team.

Airbnb, one of the most valuable venture-backed startups and a leader in the so-called "sharing economy," announced that chief financial officer Laurence Tosi is leaving and appointed Belinda Johnson to the position of chief operating officer.

The shakeup will delay an expected initial public offering (IPO) for the California-based group, which has operations in 191 countries.

"I know people will ask what these changes mean for a potential IPO. Let me address this directly. We are not going public in 2018," Airbnb chief executive Brian Chesky said in a statement announcing the moves.

"Our primary focus is becoming a 21st century company and advancing our mission. We're working on getting ready to go public and we will make decisions about going public on our own timetable."

With an estimated market value of some $30 billion, Airbnb trails only Uber among the US-based venture-funded "unicorns" which have raised private capital without going to the stock markets.

Like Uber, Airbnb has built a business model on allowing individuals to tap an underutilized resource -- in this case their homes -- to earn money, but has also drawn criticism for roiling real estate markets and established hotel operators.

The ability to raise funds privately has enabled startups like Airbnb and Uber to grow rapidly, but has also delayed implementation of measures on corporate governance and financial reporting.

Last week, Chesky outlined his vision to make Airbnb "a 21st century company" and suggested some changes were on the horizon.

"It's clear that our responsibility isn't just to our employees, our shareholders, or even to our community -- it's also to the next generation," Chesky said in the January 25 open letter.

"Companies have a responsibility to improve society, and the problems Airbnb can have a role in solving are so vast that we need to operate on a longer time horizon."

Thursday's statement said Johnson as COO "will develop and lead the programs and processes that will distinguish Airbnb as a 21st Century company and deliver uniquely against our mission."

Tosi, the statement said, "has decided to dedicate his full time and energy to his investment fund, Weston Capital Partners, and dedicate time to the several external boards he currently sits on and will be leaving Airbnb."

INTERNET SPACE
Trump team weighs plan to nationalize high-speed networks
Washington (AFP) Jan 29, 2018
President Donald Trump's national security team is mulling a plan to nationalize the newest generation of high-speed wireless internet networks, sparking sharp criticism Monday from across industry and the political spectrum. One official familiar with the draft proposal but not authorized to speak publicly told AFP the idea "has been discussed over the past couple of weeks" at the request o ... read more

Related Links
Satellite-based Internet technologies


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

INTERNET SPACE
State utilities called to pass U.S. tax benefits to consumers

Magnetic liquids improve energy efficiency of buildings

US energy watchdog rejects plan to subsidize coal, nuclear sectors

U.S. utility regulator ponders grid reliability

INTERNET SPACE
20 percent more trees in megacities would mean cleaner air and water, lower carbon and energy use

Making fuel cells for a fraction of the cost

Graphene girders doubles life of lithium batteries

Coupling experiments to theory to build a better battery

INTERNET SPACE
Ireland pushing for greener economy

China wind turbine-maker guilty of stealing US trade secrets

Scotland sets up $83 million low-carbon fund

German offshore wind farm closer to powering mainland

INTERNET SPACE
New discovery could improve organic solar cell performance

Less than half of EU members meet 2020 renewable targets

Solar PV cost reductions will offset impact of new tariffs on panel prices

U.S. solar power backers look at cost-cutting steps

INTERNET SPACE
Framatome continues ramping up production at its Le Creusot site

USA: Framatome to acquire Instrumentation and Control nuclear business of Schneider Electric

Framatome nuclear fuel contract with CNNC

Framatome pursues the industrial and technological adventure of the nuclear energy business

INTERNET SPACE
Bio-renewable process could help 'green' plastic

To maximize sugarcane harvesting, use the right blade

The making of biorelevant nanomaterials

Malaysia protest against EU push to ban palm oil in biofuels

INTERNET SPACE
U.S. shale gains pushing oil prices lower

Hess Corp. keeps spending plans static

Total, Chevron declare major oil find in the Gulf of Mexico

Alberta cries foul over proposed limit on oil transit

INTERNET SPACE
How to reduce heat extremes by 3C

Latin Americans more concerned about climate change than US, Canada

Dimming the Sun to cool Earth could ravage wildlife: study

Temp targets will be missed within decades unless emissions reversed









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.