Airbnb has estimated it will earn as much as $3.5 billion a year by 2020 (before interest and taxes and depreciation) according to sources close to the company, reports Fortune.
This figure would also be a 3,400% increase from what the company had in similar profits last year, based on numbers provided by those sources.
The bottom line growth would be a huge achievement for the home and apartment sharing company that just a few years ago was among a number of so-called Unicorns that seemed to have a lot of potential, but not much in the way of profits. It would also make Airbnb the first company to prove that the so-called sharing economy can be turned into sustainable success. That’s something that Uber, the sector’s other superstar, has yet to prove.
The amount of profit the company is due to make has been reported by a source familiar with the company’s internal estimates, and hasn’t previously been made public, though Bloomberg previously reported the company turned its first profit in 2016.