Proactive Investors - Run By Investors For Investors

Airbnb taps seasoned Amazon finance veteran as new CFO

The appointment of Dave Stephenson, who has extensive public company experience, fuels speculation that an IPO could come as soon as next year
Airbnb CFO Dave Stephenson
Questions have swirled around the financial plans of Airbnb, which investors have valued at $31 billion last year

Home-sharing start-up Airbnb has tapped a senior Amazon.com Inc (NASDAQ:AMZN) executive as its new chief financial officer after a 10-month search, ahead of a widely anticipated initial public offering next year.

Dave Stephenson will join Airbnb as chief financial officer after spending 17 years at Amazon, most recently as VP and CFO of Amazon's Worldwide Consumer Organization, responsible for all global website sales.

Stephenson will start in early January, Airbnb said in a statement, and will replace Laurence Tosi, who reportedly left the company amid rumors of tensions with Airbnb co-founder and CEO, Brian Chesky.

Cyber Monday Roundup: Amazon, Best Buy and Walmart slash prices ahead of the holiday

“Dave is one of the best financial operators in the world and there’s no one better prepared to serve as our CFO. I’m proud of everything we’ve achieved, but Airbnb is just getting started,” said Airbnb CEO Brian Chesky.

“In the years ahead, Dave will be Airbnb’s quarterback for long-term growth, driving us to be even more efficient and leverage what makes Airbnb unique to create new businesses and continue to expand,” he added.

Earlier this month, Airbnb said it had "substantially more" than $1 billion in revenue for the third quarter, marking its strongest quarter yet.

“Airbnb is the most valuable start-up in Silicon Valley behind Uber. The appointment of someone with extensive public company experience like Stephenson is likely to fuel speculation that an IPO could come as soon as next year,” reported the Financial Times.

 

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

View full AMZN profile View Profile

Amazon.com Timeline

Newswire
February 14 2019

Related Articles

H&T
December 03 2018
“I think customers are seeing that we do offer value and that really is the answer,” said chief executive John Nichols
Drain
December 18 2018
MetroRod has been in operation for 30 years but only became a franchise relatively recently
Scans and MRI
November 28 2018
The firm's subsidiary, Imaging Biometrics, recently appointed a South Korean distributor a few weeks after receiving the first commercial order for its StoneChecker technology
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use