Airbnb has lastly filed the paperwork for its IPO. What’s totally different about Airbnb’s paperwork is that it disclosed the dimensions of the stakes of every investor, which it’s not required to do and which startups normally don’t do. Like many tech firms submitting IPOs lately, Airbnb is utilizing a two-tier construction. It should promote Class A shares to the general public and people shares can have one vote per share. The Class B shares will probably be owned solely by Airbnb’s founders, executives, board members, and key traders. Every Class B share comes with 20 votes per share.
In October, Airbnb despatched an e mail to a few of its shareholders telling them they’d obtain two shares for each one share they personal. Following this, Airbnb’s widespread shares have been value $34.88 every. We have used this determine to achieve the worth of every main shareholder’s stake. That is removed from an ideal methodology, however we do not know which traders have seed-stage inventory in Airbnb that may be executed for $0.01 and we do not know which late-stage traders paid greater than $50 per share. Let us take a look at what every main Airbnb investor is on observe to make within the IPO (earlier than the acquisition worth of their shares) from the most important haul to the smallest.
Investor Sequoia Capital: $2.Eight billion
Class A shares: 691,612
Class B shares: 81,277,532
Complete shares: 81,969,144
Sequoia Capital led the seed spherical for Airbnb in 2009. The corporate invested $585,000 into the then-brand-new startup. Sequoia has participated in each funding spherical since and is Airbnb’s largest shareholder.
Again in 2009, Alfred Lin, a companion at Sequoia Capital and former COO of Zappos, was skeptical about Airbnb. He thought the concept folks would open their properties to strangers was loopy. It was founder Brian Chesky that received him over. Chesky was capable of lay out the trajectory of the enterprise quite than simply specializing in the general imaginative and prescient. Chesky additionally understood how onerous it could be to make Airbnb a extensively accepted factor, which Lin appreciated.
Co-founder Brian Chesky: $2.7 billion
Class B shares: 76,938,518
Brian Chesky isn’t just one in all Airbnb’s three founders, he was the then-fledgling firm’s first host. The concept was born in 2007 when finest buddies Brian Chesky and Joe Gebbia realized that just about all the inns in San Francisco have been offered out throughout the big Industrial Designers Society of America convention. They got here up with the concept of turning their condominium right into a mattress and breakfast for folks attending the convention. They did not have further beds or bedrooms, however they did have three air mattresses. They inflated them and referred to as themselves Airbed and Breakfast. Three folks stayed with Chesky and Gebbia they usually charged them $80 an evening.
Chesky is the CEO of Airbnb and over the past 12 years, he has ushered the corporate by way of loopy development, lawsuits, two recessions, a pandemic, and now, its IPO.
Co-founder Joe Gebbia: $2.four billion
Class B shares: 70,093,067
Again within the early days of Airbnb, Joe Gebbia went door-to-door to hosts to take photographs of their properties for Airbnb’s web site and app. At present he’s Airbnb’s Chief Product Officer and heads up the corporate’s in-house design studio. He additionally develops new services for the nation.
The IPO will vastly enhance his wealth. Nevertheless, Gebbia and his different two co-founders are all members of the Giving Pledge and have dedicated to donating at the very least half their wealth to philanthropic causes of their lifetimes.
Co-founder Nathan Blecharczyk: $2.four billion
Class B shares: 70,093,135
Nathan Blecharczyk joined Airbnb when its solely two workers have been Chesky and Gebbia and their solely hosts have been Chesky and Gebbia and their three air mattresses. Whereas Chesky and Gebbia are each designers, Blecharczyk is an engineer with a level from Harvard College. Blecharczyk developed the corporate’s knowledge science, engineering, and efficiency advertising and marketing departments. At present he leads international initiatives for Airbnb as Chief Technique Officer.
Nathan Blecharczyk got here on board at Airbnb when it was simply Chesky and Gebbia on the firm.
Investor Founders Fund: $926 million
Class B shares: 26,556,110
Founders Fund invested in Airbnb in 2013. They led the Collection C spherical in 2013 and acquired in at $5.90 per share. The corporate was notably impressed with Brian Chesky and the sixth sense he appeared to have about what Airbnb’s clients wished from the properties they rented.
Investor DST World: $493 million
Class A shares: 3,052,922
Class B shares: 11,093,112
Complete shares: 14,147,034
DST World is Russian billionaire Yuri Milner’s agency. He’s a former banker. He based DST World in 2009. DST invested in Airbnb’s Collection B spherical in 2011. That was the spherical that formally gave Airbnb its unicorn standing.
Investor Silver Lake: $175 million
Class A shares: 5,026,804
Investor Sixth Road Companions: $138 million
Class A shares: 3,967,398
We have grouped these two non-public fairness corporations collectively as a result of they invested on the similar time – in April when Airbnb was dropping cash each day on account of the worldwide lockdowns as a result of coronavirus. This funding was a lifeline for not simply Airbnb, however the journey business normally.
Board Member Brenda Johnson: $88 million
Class B shares: 2,531,978
Belinda Johnson joined Airbnb in 2011 as its chief authorized counsel. She was promoted to COO in early 2018. In 2019 she resigned from that function. Her final day was in March 2020, however she was made a board member at the moment. She was at Yahoo earlier than Airbnb. She can be on the board of administrators of PayPal. She offered 466,824 shares of her Airbnb inventory in Might for $27.four million. She forfeited a few of her unvested inventory and choice when she stop. That stated, she bought new inventory when she was made a board member. When all is alleged and carried out, together with the Might sale for $27.four million, Johnson will make greater than $115 million from her Airbnb shares.
VP of Luxurious Jonathan Poulin: $79 million
Class A shares: 2,279,756
Jonathan Poulin offered his startup that specialised in luxurious holidays to Airbnb in 2017 for $300 million. He joined the corporate to arrange a luxurious division.
Board Member Kenneth Chenault: $53 million
Class B shares: 1,526,160 (choice he can train earlier than November 29)
Kenneth Chenault was Airbnb’s first exterior board member. He’s the previous CEO of American Categorical. He is been with Airbnb since 2018. He’s additionally the chairman and managing director of the enterprise capital agency Normal Catalyst.
Shareholder Accel: $32 million
Class A shares: 919,308
Airbnb purchased one in all Accel’s firms, Lodge Tonight, in 2019 for $400 million. Accel had a sizeable stake in Lodge Tonight after main its 2011 seed spherical. Accel transformed its shares of Lodge Tonight right into a stake in Airbnb.
Former President of Properties Greg Greeley: 9.6 million
Class B shares: 277,776 (choice he can train earlier than November 29)
Greg Greeley got here to Airbnb in 2018 to run its house rental division. Beforehand, he was the pinnacle of Amazon Prime. Greeley left Airbnb throughout its government shakeup early in 2020. He’s an advisor at early-stage enterprise capital agency Tapas Capital.
CTO Ari Balogh: $5.Three million
Class B shares: 152,496 (choice he can train earlier than November 29)
Aristotle “Ari” Balogh joined Airbnb in 2018 from Google. He was the VP of engineering on the infrastructure behind Search at Google. Previous to that, he has led an 8,000 member product and engineering crew at Yahoo.
CFO Dave Stephenson: $1.6 million
Class B shares: 46,666 (choice he can train earlier than November 29)
Hiring a CFO is essential for a startup planning its preliminary public providing. Dave Stephenson joined Airbnb in 2018. He had beforehand labored at Amazon for 17 years.
World Head of Internet hosting Catherine Powell: $1.Three million
Class B shares: 37,916 (choice she will train earlier than November 29)
Catherine Powell joined Airbnb this 12 months from Disney. She ran the theme parks division for the U.S. and France. At Airbnb, she is the pinnacle of the worldwide crew that mixes the rental and Airbnb Experiences teams.
Board Member Angela Ahrendts: $413,000
Class B shares: 11,848 (choice she will train earlier than November 29)
Former Apple government Angela Ahrendts joined Airbnb’s board of administrators in 2019. At Apple, she was senior VP of retail. She was additionally the tech big’s highest-paid government.