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I heard a podcast discuss the possibility of AirBnB offering shares or options to superhosts (like me) ahead of the IPO–essentially as a "thank you" to the peop

I heard a podcast discuss the possibility of AirBnB offering shares or options to superhosts (like me) ahead of the IPO–essentially as a "thank you" to the people who helped build the marketplace. Anyone have thoughts on if that is possible or plausible?

maltelandwehr 6y ago
Not plausible. Just wishful thinking. How would that even work if superhosts are not accredited investors?
- svbanker 6y ago
  Airbnb Host Endowment: A fund that is intended to provide support to our host community now and in the future, which we expect will be initially funded with 9.2 million shares of Airbnb stock https://www.airbnb.com/resources/hosting-homes/a/how-were-giving-hosts-a-seat-at-the-table-283 https://www.airbnb.com/resources/hosting-homes/a/how-were-gi...
- callmeed 6y ago
  Employees that get and exercise stock options are not accredited investors either. Couldn't they take a similar route? I admit, I ask mostly selfishly (my wife and I are superhosts, we have managed a full-time AirBnB in CA for 2 years). But it's also an interesting thought experiment. It would be quite the contrast to how the rideshare and food delivery companies treat their non-employees.
  - EdJiang 6y ago
    Uber and Lyft did give long-term drivers “appreciation awards” which they could use to buy stock in the IPO. So not unprecedented. https://techcrunch.com/2019/04/11/uber-is-dishing-out-appreciation-awards-up-to-10000-to-let-prolific-drivers-buy-stock/ https://techcrunch.com/2019/04/11/uber-is-dishing-out-apprec...
    - julianozen 6y ago
      My understanding was that the Uber stock was a huge disaster because the value of the Uber stock imploded after drivers bought options Disclaimer: I am an Airbnb employee
- kibibyte 6y ago
  Square did this for some of their merchants through Loyal3 (which appears to be dead now), so it’s plausible. Disclosure: am employee
- jypepin 6y ago
  some Uber drivers got RSUs so I don't see why it wouldn't be possible for Airbnb.
fhrow4484 6y ago
The S-1 has this section with title "Directed Share Program": "At our request, the underwriters have reserved up to [blank] shares of Class A common stock, or [blank]% of the shares offered by this prospectus, for sale at the initial public offering price through a directed share program to: * Eligible U.S. hosts who hosted on our platform in 2019 and 2020 [...]" Not sure what this means.
tahoeskibum 6y ago
I just got an email from AirBnB outlining their plan to offer shares to hosts as a part of the IPO with first dibs to hosts that first came on the platform.
- callmeed 6y ago
  Yup, just got it too.

maltelandwehr 6y ago

Not plausible. Just wishful thinking. How would that even work if superhosts are not accredited investors?

svbanker 6y ago
Airbnb Host Endowment: A fund that is intended to provide support to our host community now and in the future, which we expect will be initially funded with 9.2 million shares of Airbnb stock https://www.airbnb.com/resources/hosting-homes/a/how-were-giving-hosts-a-seat-at-the-table-283 https://www.airbnb.com/resources/hosting-homes/a/how-were-gi...
callmeed 6y ago
Employees that get and exercise stock options are not accredited investors either. Couldn't they take a similar route? I admit, I ask mostly selfishly (my wife and I are superhosts, we have managed a full-time AirBnB in CA for 2 years). But it's also an interesting thought experiment. It would be quite the contrast to how the rideshare and food delivery companies treat their non-employees.
- EdJiang 6y ago
  Uber and Lyft did give long-term drivers “appreciation awards” which they could use to buy stock in the IPO. So not unprecedented. https://techcrunch.com/2019/04/11/uber-is-dishing-out-appreciation-awards-up-to-10000-to-let-prolific-drivers-buy-stock/ https://techcrunch.com/2019/04/11/uber-is-dishing-out-apprec...
  - julianozen 6y ago
    My understanding was that the Uber stock was a huge disaster because the value of the Uber stock imploded after drivers bought options Disclaimer: I am an Airbnb employee
kibibyte 6y ago
Square did this for some of their merchants through Loyal3 (which appears to be dead now), so it’s plausible. Disclosure: am employee
jypepin 6y ago
some Uber drivers got RSUs so I don't see why it wouldn't be possible for Airbnb.

fhrow4484 6y ago

The S-1 has this section with title "Directed Share Program": "At our request, the underwriters have reserved up to [blank] shares of Class A common stock, or [blank]% of the shares offered by this prospectus, for sale at the initial public offering price through a directed share program to: * Eligible U.S. hosts who hosted on our platform in 2019 and 2020 [...]" Not sure what this means.

tahoeskibum 6y ago

I just got an email from AirBnB outlining their plan to offer shares to hosts as a part of the IPO with first dibs to hosts that first came on the platform.

callmeed 6y ago
Yup, just got it too.