 |
| Google preferred Airbnb over its products |
Home-sharing company Airbnb said Google searches are preventing it from generating internet traffic based on documents the company has provided in preparation for selling stock to the public.
The company filed for an IPO on Monday and issued a prospectus to allow the prospectus to thoroughly examine the company's business, particularly the level of damage to the platform due to the coronavirus pandemic.
Airbnb said that if the virus continues to spread, the spread of the virus will continue to affect business.
The home sharing company allows users to book rentals and short-term experiences while traveling and says Google favors its products over Airbnb products, resulting in a decrease in traffic to its website.
Over the past year, Google has added more search capabilities to travel types, including vacation rental sites.
The company believes that SEO results have been affected by the publication of Google Travel and Google Vacation Rental ads, which has diminished the overall importance of its platform in organic search results. Google search results.
Airbnb interprets search engine optimization, or SEO, as the practice of personalizing content without paying for it in order to make it more visible in search results.
The company has warned that persistent problems with search rankings may lead to increased spending on marketing.
She said we need to increase our paid marketing spend. This increased the total cost of customer acquisition and had a negative impact on our business, transaction results and financial condition.
The company has incurred a net loss each year since its inception, declaring that it may not be profitable.
The company has grown from a net loss of $ 70 million in 2017 to a net loss of $ 674.3 million in 2019 with sales of $ 4.81 billion.
During the nine months ended September 30, the company reported net losses of $ 696.9 million and $ 2.52 billion in revenues.
So far, Airbnb reservations in 2020 have reached $ 17.9 billion, down 39% from last year.
"Our sales growth has slowed and we hope to continue doing so in the future," the company said.
Airbnb revenue reached $ 1.34 billion in the most recent quarter, down 19% from $ 1.65 billion in the same period last year.