With IPO looming, Airbnb nabs Amazon exec as new CFO

National /
Nov.November 26, 2018 03:30 PM

Dave Stephenson (Credit: Airbnb)

Airbnb hired a top Amazon executive as its new chief financial officer amid plans to go public, ending the company’s nearly year-long search to fill the position.

The home-sharing startup announced it tapped Dave Stephenson for the position that had been left open since February.

Stephenson was most recently vice president and CFO of Amazon’s worldwide consumer organization where he was in charge of overseeing global website sales, according to Bloomberg. Stephenson will start at Airbnb in early January.

Airbnb has been without a CFO since February, when Laurence Tosi left the position after reportedly clashing with CEO Brian Chesky.

Stephenson comes to Airbnb at a crucial time as the company is preparing for one of the most highly anticipated Initial Public Offerings by 2020, according to Bloomberg. The company has a private valuation of $31 billion.

The company’s IPO, however, could be impacted by regulations that cut into the company’s business, particularly in New York City, its largest market, as well as in some South Florida cities, including Miami Beach. After a bill was enacted in San Francisco making hosts register with the city, Airbnb’s listings in that city reportedly fell by half.[Bloomberg] — Keith Larsen


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