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6 pages/β‰ˆ1650 words
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Style:
Harvard
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
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Topic:

N1583 Entrepreneurship Finance and Accounting. Airbnb.

Essay Instructions:

N1583 Entrepreneurship Finance and Accounting 2019-2020 Module Assessment Brief for Students (Written Assignment)
The module uses two modes of assessments to assist student learning and to test different types of knowledge, skills, and module learning outcomes. Your grade for the module will be based on an individual 1,500-word Report (weighted at 60%) and a Seen Exam (weighted at 40%). The information of assessments will be provided before week 7 (for Report) and before the Assessment Period (for Seen Exam) respectively. Please check Canvas for the submission deadline, exam dates, and details.
Link to module learning outcomes
This written assignment links to the second and the third module learning outcomes. It aims to evaluate students' ability to explain a variety of ways to finance a business and manage working capital. It also aims to assess students' ability to evaluate forms of finance available to small firms and to identify factors which make particular forms of finance more relevant.
Report topic (60%)
This written assignment consists of two parts: a 1000-word case study followed by a 500-word commentary.
For the case study part, students should choose a 'unicorn' firm (i.e. a company that has - currently or previously - achieved a valuation in excess of $1 billion USD). A list of these may be found online. The case study should discuss the following items:
• A brief explanation of the company's background (i.e. context)
• The main business model of the company
• The funding/industry environment in which the company operates
• The funding history of the company: sources of capital, funding rounds, exit strategy, etc.
• If the company has not reached 'unicorn' status recently, what happened after reaching that valuation
For the commentary part, students should critically discuss the case study, drawing upon concepts discussed in the module. This can include:
• How key theories, principles, and concepts discussed in the module (i.e. pecking order hypothesis, information asymmetries, and principal agent theory, etc) relate to the case.
• The context of the company as it relates to its national/industry setting - Is it a good example of companies in this country and/or industry, or an outlier?
• The role of the public sector in directly or indirectly supporting the firm.
Submission
Students should submit their work by uploading electronic files of a 1,500-word Report to Canvas (Electronic submission via Canvas only, other submission such as via email are not acceptable).

Essay Sample Content Preview:

Airbnb
Student Name
Institution
Date
The word “unicorn” was originally coined by Aileen Lee in 2013. The term was used to refer to startups that were growing at a higher rate. The term refers to a privately held company that is valued at more than $1 billion. Such startups have been growing at such a high rate because of fast-growing strategy, the increase in private capital, and technological advancements among others. One company that has attained the unicorn status is Airbnb, which currently is valued at $38 billion.
Background
Airbnb was founded in 2008 by Brian Chesky, Joe Gebbia, and Nathan Blecharczyk in San Francisco. The idea of the founders was to create a lower-cost alternative to a hotel room. The company aimed to offer local experiences at inception (Guttentag, 2019). Initially, the company was referred to as Air Bed and Breakfast. The name came about since the founders used air mattresses to accommodate people in their apartments. The move was motivated by the desire to provide accommodation when there was no hotel room space in San Francisco because of an ongoing conference at the time. The founders sold rented their apartment and offered breakfast to the guests. The founders also went ahead and showed the guests around the neighborhood.
In 2008, their idea began to gain acceptability during the 2008 Democratic National Convention in Denver. The founders had managed to develop a basic online system that allowed them to rent out space to the convention attended. In March 2009, the firm shortened its name to Airbnb.com. Over since Airbnb has grown tremendously. The company has made it possible for individuals to leave in a place, rather than traveling to it (Guttentag, 2019). Airbnb is different from hotels because the hosts are in a position to offer memorable experiences to their clients, beyond a place to spend the night. The company has succeeded in offering packages for all clients ranging from high spenders to those on tight budgets. Currently, Airbnb operates in more than 191 countries and continues to expand internationally to more countries.
Business model
Airbnb’s model follows the following phases. Firstly, hosts list out their apartment particulars on the company’s website. The hosts submit information about the property like location, pricing, and the amenities offered among others. Secondly, Airbnb allows a professional photographer to access the listed property and take photographs. The company compensates photographers accordingly. Thirdly, when travelers search property, Airbnb provides them with the list of available properties together with details like prices. Travelers can then choose from the available options. Fourthly, the travelers book through the company’s website and pay the amount quoted by the host. Additionally, travelers pay more cash as transaction charges. Lastly, once the host accepts the booking, the traveler stays in the property. The company eventually pays the property owner the amount indicated then deducts a commission. Both parties are allowed to rate each other depending on what they have experienced.
Owners are allowed to make free listings on the company’s website. All the booking and financial dealings are carried...
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