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Stock impact report

Sonder had years of red flags before Marriott made a deal — and travelers got left in the lurch [Business Insider]

Airbnb, Inc. - Class A (ABNB) 
Airbnb rival, was battling sloppy accounting, a litany of lawsuits, and a stock price so low it was nearly delisted from the Nasdaq. Bankruptcy filings and SEC records show just how stark the signs were — and raise questions about why Marriott, the world's biggest hotel chain, got into bed with the one-time unicorn. The San Francisco startup, founded in 2014, leased apartments and hotel rooms in bulk, redesigned them with a minimalist aesthetic, and rented them to travelers. It's the brainchild of Canadian Francis Davidson , who is the ideal of a 2010s founder: VC-backed, college dropout, Forbes 30 Under 30. He offered a " revolutionary" promise : Goodbye, poorly decorated Airbnbs with quirky hosts. Hello, streamlined rentals managed with modern technology. In August 2024, he unveiled his pièce de résistance: a deal between Sonder and blue-chip Marriott, which was heralded as a way to bring that vision into the future. "Making this deal happen — along with the multi-party, com Show less Read more
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