Technology
Switch to Success: 20 Years of Nintendo Console Sales
Published
4 weeks agoon
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How the Nintendo Switch Brought Console Sales Back
Since its 2017 release, the Nintendo Switch has become a household game console for gamers and non-gamers alike.
Few consoles penetrate the mainstream deeply enough to have parents referring to a console by its proper name, instead of their children’s “Gameboy” or “Wii”. Even fewer come together as a complete package that ties together the ideologies and technical ideas of their preceding consoles like the Nintendo Switch has.
This graphic visualizes the Nintendo Switch sales success story alongside more than 20 years of Nintendo console sales.
The History of Nintendo Console Sales
Nintendo has a long and storied history in gaming—but since the release of the original Game Boy in 1989, the company has favored a two-pronged approach with its game consoles: having both a portable handheld console and a home console which connects to a TV on the market.
The Game Boy and the SNES (1990) were the first iteration of this strategy, and they reached more than 160 million units sold combined while establishing legendary game franchises with revered sequels like Super Mario World and The Legend of Zelda: A Link to the Past.
The Game Boy’s variants like the Game Boy Pocket (1996) and Game Boy Color (1998) lengthened the handheld’s lifespan enough to accompany another home console, with the Nintendo 64 coming out in 1996 and selling 32.93 million units of its own.
These successes proved that the gaming audience would support two separate Nintendo consoles on the market, and Nintendo kept the strategy going the following generations.
Lifetime Nintendo Console Sales
Console | Release Year | Units Sold (as of Sept 30, 2020) |
---|---|---|
NES | 1983 | 61.91 M |
Game Boy | 1989 | 118.69 M |
SNES | 1990 | 49.1 M |
Nintendo 64 | 1996 | 32.93 M |
Game Boy Advance | 2001 | 81.51 M |
Nintendo GameCube | 2001 | 21.74 M |
Nintendo DS | 2004 | 154.02 M |
Nintendo Wii | 2006 | 101.63 M |
Nintendo 3DS | 2011 | 75.94 M |
Wii U | 2012 | 13.56 M |
Nintendo Switch | 2017 | 68.3 M |
Source: Nintendo
The next generation made up of the Game Boy Advance (2001) and Nintendo GameCube (2001) saw slightly lower sales numbers, but was competing against Microsoft’s gaming debut with the original Xbox (2001) and Sony’s incredibly popular Playstation 2 (2000).
While the GameCube sold 21.7 million total units and the original Xbox sold ~24 million total units, the Playstation 2 dominated this generation and is still the best-selling video game console of all time with 155 million units sold.
The Sales Success of the Wii and Nintendo DS
As Sony and Microsoft pushed HD rendering and higher graphical fidelity in their next generation of consoles, Nintendo focused on how games were played rather than raw power.
This brought about the Nintendo DS (2004), which added a second touch screen for developers to build games around, and the Nintendo Wii (2006), which pioneered motion controls and accessibility with the simpler Wii Remote controller.
Both the Nintendo DS and the Nintendo Wii were runaway successes, dominating their generation with more than 255 million combined consoles sold.
At the same time, Sony had tried to replicate Nintendo’s strategy with handheld consoles of their own, the PSP (2004) and PS Vita (2011), and while they sold 80 million units and ~10-15 million units respectively, Sony ultimately abandoned the handheld console market.
The Sales Slump of the Nintendo 3DS and Wii U
Nintendo was clearly the king of the handheld console market. While mobile phones were feared to be a portable console killer, the Nintendo 3DS sold well when it released in 2011 (75.94 million units) and was Nintendo’s saving grace for its generation.
What didn’t hold up well was Nintendo’s home console follow-up to the Wii, the Wii U. The console only reached 13.56 million lifetime sales, and was quickly overshadowed by the Playstation 4 (113.5 million units sold) and Xbox One (~51 million units sold) releases in 2013.
The Wii U’s weak sales brought about one of Nintendo’s worst periods ever in recent history, with two unprofitable years for the company in 2012 and 2014. While developers previously flocked to create games for the Wii’s motion controls, the Wii U’s tablet controller didn’t attract the same kind of innovative software development.
Nintendo’s Net Income Since 2000
Year | Net Income (USD) |
---|---|
2000 | $490 M |
2001 | $734 M |
2002 | $896 M |
2003 | $627 M |
2004 | $324 M |
2005 | $742 M |
2006 | $827 M |
2007 | $1,561 M |
2008 | $2,838 M |
2009 | $3,003 M |
2010 | $2,819 M |
2011 | $1,010 M |
2012 | -$498 M |
2013 | $67 M |
2014 | -$194 M |
2015 | $348 M |
2016 | $141 M |
2017 | $910 M |
2018 | $1,273 M |
2019 | $1,787 M |
2020 | $2,500 M |
Source: Nintendo
How the Nintendo Switch Unified Nintendo’s Strategies
With the Wii U’s poor performance leaving Nintendo in a tough spot, the next console release was crucial to the success of the company.
The Nintendo Switch came just in time in 2017 as the Wii U’s sales dried up, and the new hybrid home and portable console was an instant success. By the end of 2018’s fiscal year, the Switch had already outsold the Wii U with 17 million units sold.
While the Nintendo Switch sales success story came largely from how it unified home and handheld gaming, the console brought to fruition many of Nintendo’s strategies and technical decisions over the generations.
Many of the Wii Remote’s abilities are still present in the Switch’s Joy-Cons, with built-in accelerometers and gyroscopes for motion controls, along with the ability to rotate them sideways for a more classic controller configuration. The Nintendo DS’s touch screen permeated many Nintendo consoles and is still present in the Switch, and looking back at the Wii U’s tablet controller, it now seems like an early prototype for the Switch’s free-form portability.
Combining Physical and Digital Play
Nintendo’s foray into physical toys, which started with Amiibo figures, is also gradually developing and merging physical and digital play thanks to the Switch.
In 2018, the company released Nintendo Labo, a custom cardboard building set which integrates with the Switch and its Joy-Cons for a variety of games and experiences. The 2020 release of Mario Kart Live: Home Circuit pushed this further, with players able to build a Mario Kart circuit in their home to race physical karts controlled by the Switch.
The company is continuing to branch out into other realms with the opening of Super Nintendo World theme park in Universal Studios in Osaka, Japan on February 4th, 2021. The theme park will also be combining the digital and physical world, with virtual coin collecting and other prizes tracked on mobile phones, gamifying the experience for visitors.
Broadening Nintendo’s Audience to More than Just Gamers
The success of the Nintendo Switch has brought on more experimentation and fresh ideas from the company, and the COVID-19 pandemic made it an essential product of 2020. With many families at home due to lockdowns, being able to slide the console out of its dock and off the TV to play in handheld mode has been a game-changer.
While Nintendo’s development team can prepare for their next console with a bit more financial breathing room thanks to the Switch’s superb sales, the company has been working hard to broaden its audience. The physical toys for younger audiences help capture a new generation of Nintendo fans, while older generations of fans will be excited to visit Super Nintendo World and indulge in nostalgia while introducing Nintendo to their children.
As the Nintendo Switch’s excellent game library continues to expand, new and old fans alike will be excited to see what consoles, games, and other products come next from the legendary game company.
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Technology
Mapped: Drone Privacy Laws Around the World
By 2025, the global commercial drone market could reach $42.8 billion. With such diverse uses, how do countries navigate drone privacy laws?
Published
2 weeks agoon
January 8, 2021
Mapped: Drone Privacy Laws Around the World
View the high-resolution of the infographic by clicking here.
From Olympic opening ceremonies to public safety, drone applications have come a long way.
In fact, their modern applications are set to almost double the total value of the commercial drone market from $22.5 billion to $42.8 billion between 2020-2025, at a 13.8% compound annual growth rate (CAGR).
Naturally, such diverse and complex uses can go quickly awry if not monitored and regulated correctly by governments—yet in some cases, it’s because of governments that drones’ uses border on sinister.
This in-depth map from Surfshark explores the murky guidelines surrounding drone privacy laws around the world, and some case studies of how they’re used in every region.
How Are Drone Privacy Laws Classified?
According to the map researchers, drone and unmanned aerial vehicle (UAV) regulations typically fall into one of the following buckets:
- Outright ban
- Effective ban
- Visual line of sight required
Pilots need to be able to see the drones at all times, and must usually obtain a license or permit - Experimental visual line of sight
Pilots can let the drone fly outside their field of vision e.g. during a race - Restrictions apply
Drones need to be registered, and/or additional observers are required - Unrestricted
When drones are flown around private property and airports, and under 500 feet (150 meters) - No drone-related legislation
Categories are assigned based on legislation as of October 2020.
Clearly, there is some overlap among these categories. They are highly dependent on judgment calls made by specific legal authorities, and change based on what a drone is being used for.
Explore the drone privacy laws in your specific country here:
Country/Territory | Continent | Drone Legal Status (Oct. 2020) |
---|---|---|
Afghanistan | Asia | Unrestricted |
Albania | Europe | No drone-related legislation |
Algeria | Africa | Outright ban |
Andorra | Europe | Visual line of sight required |
Angola | Africa | No drone-related legislation |
Antigua and Barbuda | North America | Experimental visual line of sight |
Argentina | South America | Unrestricted |
Armenia | Europe | No drone-related legislation |
Aruba | North America | Visual line of sight required |
Australia | Oceania | Experimental visual line of sight |
Austria | Europe | Unrestricted |
Azerbaijan | Europe | Visual line of sight required |
Bahamas, The | North America | Unrestricted |
Bahrain | Asia | No drone-related legislation |
Bangladesh | Asia | Unrestricted |
Barbados | North America | Outright ban |
Belarus | Europe | No drone-related legislation |
Belgium | Europe | Visual line of sight required |
Belize | North America | Effective ban |
Benin | Africa | No drone-related legislation |
Bermuda | North America | Visual line of sight required |
Bhutan | Asia | Effective ban |
Bolivia | South America | No drone-related legislation |
Bosnia and Herzegovina | Europe | No drone-related legislation |
Botswana | Africa | Visual line of sight required |
Brazil | South America | Visual line of sight required |
Brunei Darussalam | Asia | Outright ban |
Bulgaria | Europe | Effective ban |
Burkina Faso | Africa | No drone-related legislation |
Burundi | Africa | No drone-related legislation |
Cabo Verde | Africa | Visual line of sight required |
Cambodia | Asia | No drone-related legislation |
Cameroon | Africa | Visual line of sight required |
Canada | North America | Experimental visual line of sight |
Cayman Islands | North America | Experimental visual line of sight |
Central African Republic | Africa | No drone-related legislation |
Chad | Africa | Unrestricted |
Chile | South America | Visual line of sight required |
China | Asia | Experimental visual line of sight |
Colombia | South America | Visual line of sight required |
Comoros | Africa | No drone-related legislation |
Congo, Dem. Rep. | Africa | No drone-related legislation |
Congo, Rep. | Africa | No drone-related legislation |
Costa Rica | North America | Visual line of sight required |
Cote d'Ivoire | Africa | Outright ban |
Croatia | Europe | Visual line of sight required |
Cuba | North America | Outright ban |
Curacao | North America | Visual line of sight required |
Cyprus | Europe | Visual line of sight required |
Czech Republic | Europe | Experimental visual line of sight |
Denmark | Europe | Experimental visual line of sight |
Djibouti | Africa | No drone-related legislation |
Dominica | North America | No drone-related legislation |
Dominican Republic | North America | Visual line of sight required |
Ecuador | South America | Visual line of sight required |
Egypt, Arab Rep. | Africa | Effective ban |
El Salvador | North America | No drone-related legislation |
Equatorial Guinea | Africa | No drone-related legislation |
Eritrea | Africa | No drone-related legislation |
Estonia | Europe | Unrestricted |
Ethiopia | Africa | No drone-related legislation |
Faroe Islands | Europe | Unrestricted |
Fiji | Oceania | Visual line of sight required |
Finland | Europe | Experimental visual line of sight |
France | Europe | Experimental visual line of sight |
Gabon | Africa | No drone-related legislation |
Gambia, The | Africa | No drone-related legislation |
Georgia | Europe | Visual line of sight required |
Germany | Europe | Experimental visual line of sight |
Ghana | Africa | Experimental visual line of sight |
Gibraltar | Europe | Effective ban |
Greece | Europe | Unrestricted |
Greenland | North America | Visual line of sight required |
Grenada | North America | No drone-related legislation |
Guam | Oceania | Unrestricted |
Guatemala | North America | No drone-related legislation |
Guinea | Africa | No drone-related legislation |
Guinea-Bissau | Africa | No drone-related legislation |
Guyana | South America | Experimental visual line of sight |
Haiti | North America | No drone-related legislation |
Honduras | North America | No drone-related legislation |
Hong Kong SAR, China | Asia | Visual line of sight required |
Hungary | Europe | Unrestricted |
Iceland | Europe | Visual line of sight required |
India | Asia | Visual line of sight required |
Indonesia | Asia | Visual line of sight required |
Iran, Islamic Rep. | Asia | Outright ban |
Iraq | Asia | Outright ban |
Ireland | Europe | Experimental visual line of sight |
Israel | Asia | Visual line of sight required |
Italy | Europe | Visual line of sight required |
Jamaica | North America | Visual line of sight required |
Japan | Asia | Experimental visual line of sight |
Jordan | Asia | Unrestricted |
Kazakhstan | Europe | No drone-related legislation |
Kenya | Africa | Effective ban |
Kiribati | Oceania | No drone-related legislation |
Korea, Dem. People’s Rep. | Asia | No drone-related legislation |
Korea, Rep. | Asia | Visual line of sight required |
Kosovo | Europe | Visual line of sight required |
Kuwait | Asia | Outright ban |
Kyrgyz Republic | Asia | Outright ban |
Lao PDR | Asia | Unrestricted |
Latvia | Europe | Unrestricted |
Lebanon | Asia | No drone-related legislation |
Lesotho | Africa | No drone-related legislation |
Liberia | Africa | No drone-related legislation |
Libya | Africa | No drone-related legislation |
Liechtenstein | Europe | Experimental visual line of sight |
Lithuania | Europe | Visual line of sight required |
Luxembourg | Europe | Visual line of sight required |
Macao SAR, China | Asia | Visual line of sight required |
Madagascar | Africa | Outright ban |
Malawi | Africa | Visual line of sight required |
Malaysia | Asia | Effective ban |
Maldives | Asia | Effective ban |
Mali | Africa | No drone-related legislation |
Malta | Europe | Unrestricted |
Marshall Islands | Oceania | No drone-related legislation |
Mauritania | Africa | No drone-related legislation |
Mauritius | Africa | Visual line of sight required |
Mexico | North America | Visual line of sight required |
Micronesia, Fed. Sts. | Oceania | No drone-related legislation |
Moldova | Europe | No drone-related legislation |
Monaco | Europe | Unrestricted |
Mongolia | Asia | No drone-related legislation |
Montenegro | Europe | Visual line of sight required |
Morocco | Africa | Outright ban |
Mozambique | Africa | No drone-related legislation |
Myanmar | Asia | Effective ban |
Namibia | Africa | Visual line of sight required |
Nauru | Oceania | No drone-related legislation |
Nepal | Asia | Visual line of sight required |
Netherlands | Europe | Visual line of sight required |
New Caledonia | Oceania | No drone-related legislation |
New Zealand | Oceania | Experimental visual line of sight |
Nicaragua | North America | Outright ban |
Niger | Africa | No drone-related legislation |
Nigeria | Africa | Effective ban |
North Macedonia | Europe | Visual line of sight required |
Norway | Europe | Visual line of sight required |
Oman | Asia | Effective ban |
Pakistan | Asia | No drone-related legislation |
Palau | Oceania | No drone-related legislation |
Panama | North America | Unrestricted |
Papua New Guinea | Oceania | Visual line of sight required |
Paraguay | South America | No drone-related legislation |
Peru | South America | Visual line of sight required |
Philippines | Asia | Visual line of sight required |
Poland | Europe | Experimental visual line of sight |
Portugal | Europe | Experimental visual line of sight |
Puerto Rico | North America | Experimental visual line of sight |
Qatar | Asia | Unrestricted |
Romania | Europe | Visual line of sight required |
Russian Federation | Europe | Experimental visual line of sight |
Rwanda | Africa | Experimental visual line of sight |
Samoa | Oceania | No drone-related legislation |
San Marino | Europe | No drone-related legislation |
Sao Tome and Principe | Africa | No drone-related legislation |
Saudi Arabia | Asia | Experimental visual line of sight |
Senegal | Africa | Outright ban |
Serbia | Europe | Unrestricted |
Seychelles | Africa | Visual line of sight required |
Sierra Leone | Africa | No drone-related legislation |
Singapore | Asia | Experimental visual line of sight |
Sint Maarten (Dutch part) | North America | Experimental visual line of sight |
Slovak Republic | Europe | Visual line of sight required |
Slovenia | Europe | Outright ban |
Solomon Islands | Oceania | Visual line of sight required |
Somalia | Africa | No drone-related legislation |
South Africa | Africa | Experimental visual line of sight |
South Sudan | Africa | No drone-related legislation |
Spain | Europe | Experimental visual line of sight |
Sri Lanka | Asia | Experimental visual line of sight |
St. Kitts and Nevis | North America | No drone-related legislation |
St. Lucia | North America | Unrestricted |
St. Martin (French part) | North America | Experimental visual line of sight |
St. Vincent and the Grenadines | North America | No drone-related legislation |
Sudan | Africa | No drone-related legislation |
Suriname | South America | No drone-related legislation |
Swaziland | Africa | Visual line of sight required |
Sweden | Europe | Unrestricted |
Switzerland | Europe | Unrestricted |
Syrian Arab Republic | Asia | Outright ban |
Taiwan | Asia | Visual line of sight required |
Tajikistan | Asia | No drone-related legislation |
Tanzania | Africa | Visual line of sight required |
Thailand | Asia | Visual line of sight required |
Timor-Leste | Asia | No drone-related legislation |
Togo | Africa | No drone-related legislation |
Tonga | Oceania | No drone-related legislation |
Trinidad and Tobago | North America | Experimental visual line of sight |
Tunisia | Africa | No drone-related legislation |
Turkey | Europe | Unrestricted |
Turkmenistan | Asia | No drone-related legislation |
Turks and Caicos Islands | North America | Unrestricted |
Tuvalu | Oceania | No drone-related legislation |
Uganda | Africa | Experimental visual line of sight |
Ukraine | Europe | Visual line of sight required |
United Arab Emirates | Asia | Visual line of sight required |
United Kingdom | Europe | Experimental visual line of sight |
United States | North America | Experimental visual line of sight |
Uruguay | South America | Visual line of sight required |
Uzbekistan | Asia | Outright ban |
Vanuatu | Oceania | Visual line of sight required |
Venezuela, RB | South America | Unrestricted |
Vietnam | Asia | Unrestricted |
Yemen, Rep. | Asia | No drone-related legislation |
Zambia | Africa | Visual line of sight required |
Zimbabwe | Africa | Experimental visual line of sight |
So How Are Drones Used Worldwide?
The myriad of drone uses are literally and metaphorically up in the air—while they originated in military needs, drone uses now range from hobbies such as aerial photography to supporting disaster relief.
The following regional maps show privacy laws in closer detail, while also highlighting interesting case studies on how drones are used.
North America
Click here for the high-resolution version of this graphic.
According to the latest drone numbers, 70.5% of registered U.S. drones are recreational, but these proportions may soon decline in favor of commercial uses. As of December 2020, civilian drones are allowed to fly over populated areas, a step towards fulfilling their potential in package delivery.
Meanwhile, countries like Mexico are beginning to rely on drones to combat crime, with good results. In the city of Ensenada, a single drone’s surveillance patrol resulted in a 10% drop in overall crime rates in 2018. Drones are increasingly being used to monitor illicit activity such as drug trafficking routes.
South America
Click here for the high-resolution version of this graphic.
Interestingly, the environmental applications of drones come into play in the Amazon rainforest. An indigenous tribe in Brazil is using drones to track levels of deforestation and forest fires—and presenting that data evidence to authorities to urge them to act.
Across the continent, drones are also in place to deliver everything from hospital supplies to life jackets in Chile and El Salvador.
Europe
Click here for the high-resolution version of this graphic.
The first unmanned, radio-controlled aircraft test flight occurred in the United Kingdom in 1917. The Kettering Aerial Target (or “The Bug”) carried 180 pounds of explosives and became the basis for modern missiles.
While Europe has some of the most liberal drone privacy laws today, that doesn’t mean they’re lenient. Even among countries that allow experimental visual lines of sight (such as Finland and Portugal), special permissions are required.
Middle East and Central Asia
Click here for the high-resolution version of this graphic.
The military applications of drones persist in this region. Iran was one of the first to use armed drones and continues to do so, while simultaneously banning their public use.
Neighboring Turkey also relies on kamikaze drones, augmented by AI and facial recognition, to strengthen border security.
Rest of Asia and Oceania
Click here for the high-resolution version of this graphic.
China-based DJI is the world’s largest drone manufacturer, dominating 70% of the global market. Across Asia, drones have been in use for mass surveillance, particularly in China. In recent times, drones also track compliance with strict COVID-19 guidelines in Malaysia and Singapore.
Meanwhile, in Japan, Nokia is testing out a drone network to provide a more rapid response to future natural disasters. The relief capabilities include disseminating more real-time updates and monitoring evacuation progress.
Africa
Click here for the high-resolution version of this graphic.
While many parts of Africa haven’t developed any drone-related laws yet, promising innovation is rearing its head. Medical drones are already saving lives in Rwanda, delivering supplies in as little as 15 minutes.
In the same vein, the pioneer African Drone and Data Academy (ADDA) opened in Malawi. The academy promotes drone usage for humanitarian and disaster preparedness, and aims to equip individuals with the relevant skills.
Towards Greater Heights?
As the uses of drones evolve over time, so will their legal status and the privacy concerns surrounding them. However, the adoption of any technology is always accompanied by a certain level of skepticism.
With drones, it remains to be seen whether they’ll mostly occupy the role of a friend or a foe for years to come—and that power lies only in the hands of those who remotely control them.
Technology
The Business of Airbnb, by the Numbers
From rooms to revenue, this infographic breaks down the numbers behind the business of Airbnb—one of the most successful IPOs of 2020.
Published
2 weeks agoon
January 6, 2021
The Business of Airbnb, by the Numbers
Airbnb was one of the most highly anticipated IPOs of 2020.
After a trading surge, the company’s market cap topped the $100 billion mark. Now that the dust has settled, here are some key numbers behind the company’s unique business model.
The Last 5 Years
Since 2015, Airbnb has had an epic run.
With a market cap of close to $90 billion, they are one of the largest businesses in the travel and tourism space. However, there is still plenty of room to grow: Airbnb identifies their total addressable market (TAM) to be worth $3.4 trillion.
Metric | 2015 | 2016 | 2017 | 2018 | 2019 |
---|---|---|---|---|---|
Gross Booking Value ($ Billions) | $8.1B | $13.9B | $21.0B | $29.4B | $38.0B |
Annual Nights & Experiences Booked (In Millions) | 72.4M | 125.7M | 185.8M | 250.3M | 326.9M |
Revenues ($ Billions) | $919M | $1.6B | $2.5B | $3.6B | $4.8B |
Nights and experiences booked by customers have shot up 4.5x, from 72 million in 2015 to 326 million in 2019. At the same time, the gross dollar value of these bookings has surged from $8.1 billion to $38 billion.
No Shortage Of Space
Airbnb’s ability to scale its services is reflected by its room count, which is unmatched when compared to the hotel industry.
In 2019, Airbnb had nearly 5 million rooms available, a mammoth of a figure considering the next largest was Marriott at 1.3 million. The company is a giant thorn in the hotel industry’s side, and their room count is approximately the size of the five largest hotel chains combined.
A Shortage Of Profits
Despite a global presence and attractive numbers, the business of Airbnb is yet to be profitable.
Airbnb has lost money every year—and the company’s cumulative losses total $2.8 billion since 2008. Not surprisingly, those losses have been exacerbated during the pandemic, a common theme for all travel and tourism stocks. Airbnb had -4 million bookings in March, and these negative bookings helped lead to a -32% decline on their top line compared to 2019.
Metric | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 (Q1'-Q3') |
---|---|---|---|---|---|---|
Revenue | $919M | $1.6B | $2.5B | $3.6B | $4.8B | $2.5B |
Net Income | -$135M | -$136M | -$70M | $-17M | -$674M | -$696M |
Airbnb’s net income losses so far in fiscal 2020 (Q1-Q3) are -$696 million, the largest of any year.
Silver Linings
Airbnb has demonstrated an ability to adapt during this time of uncertainty through the introduction of digital experiences. They also made the tough decision to cut 25% of their staff this year.
Monthly bookings and experiences have shown signs of recovery. Since the negative bookings earlier in March, figures have crept back up to the 20 million range, near pre-pandemic levels.
A resilient segment for the business of Airbnb is short-distance travel within 50 miles of guest origin. As the pandemic expanded, people are taking vacations from their abodes by visiting less densely populated neighboring communities.
Another Hot IPO
The Airbnb IPO was one of many headline makers of 2020. When it comes to initial public offerings, markets as of late have shown no shortage of exuberance. Company shares have had the tendency to surge once hitting the secondary market, reflecting investor appetite. The Airbnb IPO experienced just this: initially intending to be priced at $56-$60 a share, in just a few weeks they traded as high as $160 per share.
The Renaissance IPO Index, a returns tracker for U.S. public offerings, reports that IPOs are up roughly 108% in the last calendar year, experiencing one of the best years on record.
But the aftermath of an IPO can just as likely go sour. Public companies are subject to more strenuous regulation relative to the private markets. And with a near $90 billion valuation, future expectations are high for Airbnb. The company will have to woo shareholders in the coming quarters to keep momentum, which likely means showing strides in an uncertain travel and tourism landscape.
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