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CHINA BRIEF | Airbnb may postpone its IPO to 2021 as coronavirus outbreak stems travel

The company’s China business has been cut by 80% compared with 2019.

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With its business hit heavily by the coronavirus outbreak, home-sharing platform Airbnb may delay its planned initial public offering until 2021, local media outlet 36Kr reported on Thursday, citing Bloomberg.

The coronavirus has caused customers around the world to cancel travel plans, severely affecting profits for Airbnb. According to its latest policy, the company has waived cancellation penalties for customers and hosts with reservations in mainland China booked before January 28 with check-in dates before April 1. Its China business has been cut by 80% compared with 2019, Bloomberg reported.

Infections of the coronavirus have topped 94,000 worldwide as of Thursday with cases in over 80 countries and territories, killing more than 3,200 people. Among these cases, more than 80,500 are in mainland China.

36Kr is KrASIA’s parent company.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.