Airbnb is pumping the brakes on new hires and freezing its marketing spending as its losses from the coronavirus fallout mount, according to a report Friday from The Information.
Airbnb, which once stood out among the crop of sharing economy startups for being profitable, is now losing hundreds of millions of dollars, The Information reported.
Technical and essential roles at Airbnb are still open and moving through the process on a case-by-case basis, a source close to the company told Business Insider.
In conversations with Business Insider, multiple venture capital investors speculated that Airbnb, Uber, and Lyft may not make it out of a pending recession at all.
"I think it's definitely going to impact timing," Torch Capital founder and managing partner Jon Keidan told Business Insider. | To read full story, visit https://startuparound.com/read/1585355511.0159414/Airbnb-is-freezing-marketing-spending-and-slowing-hiring-as-losses-reportedly-reach-hundreds-of-millions-of-dollars?ref=audio_experience