@peter_IFAMAG reads Twitter so you don’t have to.
Airbnb’s value of $100bn makes it the hotel industries largest player, by far. Airbnb and DoorDash IPO helped make 2020 a record year for private companies going public. Elsewhere disrupter companies continue to shine as Ocado saw steady growth in the UK through Autumn.
Aswath Damodaran teaches company valuation at Stern Business School. He shared his insights into AirBNB and DoorDash valuations this morning.
AS $ABNB and $DASH get ready to make there public market debuts, here is where they stand, how my forecasts diverge for the two companies and my judgments on value for the two companies, with final share counts (I hope). At their offer prices, I like $ABNB more than $DASH… pic.twitter.com/dz2YGS102f
— Aswath Damodaran (@AswathDamodaran) December 7, 2020
Robin Wigglesworth, Global finance correspondent for the FT, shared a sceptical meme about the Airbnb IPO. Wigglesworth pointed out just how immense Airbnb’s valuation is compared to the rest of the hotel industry.
To put this in context, if Airbnb is worth $100bn, that is as much as the combined value of Marriott International ($42bn) Hilton Worldwide ($29bn), InterContinental ($11.5bn) Choice Hotels ($5.5bn), Hyatt Hotels ($7.5bn) and Wyndham Hotel & Reports ($5.4bn). https://t.co/tbC7JYwLKK
— Robin Wigglesworth (@RobinWigg) December 10, 2020
Ashley Armstrong, Retail and M&A Editor for The Times, suggests M&S should appreciate its stake in Ocado. Ocado saw a 34.9% growth in sales in the 13 weeks up to and during the last UK wide lockdown.
Ocado Retail grew sales by 34.9% to £579.6m during 13wks to 29 November as demand for online groceries remains high. Expects FY EBITDA to be over £70m.
Let’s see whether M&S shares start to appreciate that it owns half of Ocado this morning— Ashley Armstrong (@AArmstrong_says) December 10, 2020
Royal Bank of Scotland is being sued £10.5m, accused of ‘manipulating’ a customers loan document. A High Court Judge has asked the bank to ‘look again’ following internal search leading to empty hands.
RBS told to look again for ‘altered’ agreement writes @jameshurley https://t.co/GQn8AY5Cni
Another case of manipulated RMP info brought to light by the sterling work of @BankConfidenti1 @Nat_Worst @stevemiddi1
RBS's quote at the end is a pearler
— Clive May (@efgbricklayer) December 9, 2020
Chris Giles, Economics editor of the FT, tries to shift the narrative foreseeing a VAT crackdown on the sharing economy from the Treasury.
Forget Brexit for a second. This is very important.
We might quite like getting travel or accommodation services without VAT, but it’s a big problem in the long term and @hmtreasury is poised for a crackdown https://t.co/ygrKKxZpCp via @financialtimes
— Chris Giles (@ChrisGiles_) December 9, 2020
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