Airbnb is poised to publicly list its stock in its upcoming IPO in December 2020 at a valuation of $30bn. Relative to other travel giants like Booking.com ($83bn) and Expedia ($17bn), this valuation may seem high at first glance. However, Airbnb could grow into the most important, if not the biggest travel company in the world, meaning Airbnb's stock could actually be undervalued relative to its potential. Executive Summary ABNB's competitive advantage is its lead in providing properties hosted by single homeowners as opposed to professionally managed properties. Even Booking doesn't seem to have caught up on this well as its alternative accommodations seem to still consist largely of professionally managed "hotel apartments" operated by multi-home owners. Using this unique offering, ABNB has built one of the strongest brands in travel. Google Search for Airbnb already surpassed search for Booking globally. COVID-19 pandemic may have actually helped ABNB cement its position...