Why my purchasing IPO share order didn't get fill before Dec.10?!

[Rita693]

First, I am feeling very disappointment that until today (IPO day) I still didn't receive any update for why I am still didn't receive the email or follow up from Morgan Stanley for the IPO shares purchasing. Not sure if anyone here have the same issue. When looking the shares price is going up after 1:30pm, I feel like I am a forgotten host by airbnb. 

I even submitted the Airbnb's Directed Share Program form right away when I receive it on Nov.16.2020. Then got the automatic response ( I believe it is), saying that later I will receive another email from Morgan Stanley about the shares number that I want to purchase. Until Dec.6, all my host friends already received that email except me. 

I sent email to the Airbnb Market Manager Camila about this issue on Dec.6 , she replied me: "Thanks for reaching out. I have surfaced this to the team and will get back to you this week. Stay tuned! ".

On Dec.9, I sent another email for follow up since only 1 day left to IPO. And in the same day, my friends already got phone call from Morgan Stanley about their shares process.

Then Cami replied me : "I am working to speak with as many people as possible to get you the correct information. I do not have that much clarity since it's a quiet period but I know some hosts got emails saying the program was full, though I'm not sure if that's your case. I am waiting to hear back from different teams so I'll give you an update as soon as I have more information. " 

I have to say, Cami did her best to help me out, as always. So thank you Cami.

From this email, I got an idea that maybe because the program was full, so I am one of the host that didn't get my order fill up.

If that's the case, I really curious how Airbnb select which host's order should be filled or refused? As I already fill up the Directed share program form right away in the same day when I received the email on Nov.16, even faster than my other host friends did ( yes I was the one told them about this program since some of them even didn't check email yet that day).

Anyway, just want to ask if any hosts here have the same issue like me.

And also would like to hear back from Airbnb or Morgan Stanley about why my order didn't get fill. 

After all, congratulation everyone for the IPO! 

[Rita693]

@Charlotte833 Glad this helped you out. Yesterday the airbnb Marketing Manager passed my case to her other 2 teammates, and told me that they will be able to help provide me with more information about the current situation with the shares program. Let's see what will happen next. I still feel I am left out.

[Ann72]

@Charlotte833 @Rita693 @Katherine658 @Jen5  In the first email from Airbnb about this, dated 11/16/20, was this paragraph (emphasis mine):

• If more Hosts express an interest in participating than the program is able to accommodate, eligible Hosts may be invited to register by the Administrator based on tenure, as determined by the year they first hosted on Airbnb. Registration will be available on a first come, first served basis, by invitation from the Administrator.

When I read that, I honestly thought my 6 years might not make the cut, given the number of active hosts with 10 or more years, like @Jen5.  I got lucky.  But everyone who didn't get in should keep an eye on the stock, because like most stocks it will have its highs and lows and might dip down again and enable people to buy at a comparable price.

[Rita693]

@Ann72 If that's the case, I am sure I am qualify. Because my friend who host less year than me also got the shares, and I submitted the form right away on the same day when I received it (even more faster than my other host friends who got shares). 

[Scott336]

@Rita693 @Julie311 @Ann72 @Charlotte833 @Jen5 

I have been a Superhost/Plus for 3 years.  I received all of the emails, registered, and was able to buy shares through the DSP.  I do beleive Airbnb could have done better in getting the word out.  I feel fortunate to have noticed the email subject, then read the email.  A bit obscure to anyone not following the Market.  ABNB has been one of the most anticipated "tech" IPO's in the last year...so it has been on the radar.   I had ZERO expectations as to the outcome after the email on 11/16 and then filling out "the form". I had ZERO expectatoins when I got the next email several days later that I'd made "the first cut".  I'd be p!ssed if I missed out though.  No doubt.  I feel fortunate to have been able to purchase at the DSP price.  Hope more people can purchase and that the stock can continue to do well.

[Scott336]

And if I can purchase more for anything close to $80-90...I'm in...as of today...probably 🙂

[Rita693]

Happy for you @Scott336 , I've been hosted 5 years and with 40+ lists in Airbnb...I honestly feel very disappoint that I were left out. 

[Christine615]

This would have been easier if there had been a working dedicated line at MS for the program. I called the one indicated and it rang endlessly. Once I figured out there were two different websites necessary- one specific to the directed share site and the main MS website. Having to navigate two registration processes and figure out how to generate the ACH process to pay for the stock was disorienting rather than have it as a tab. I did buy, but had only committed to half the max because I knew there wasn’t enough to go around. But it seems most hosts did 200 shares which in retrospect was a wise choice financially but raising the IPO from $44 to $68 creates hard choices for smaller hosts hurt by the pandemic. 200 shares was close to $14,000. 

Wish they had let people know that buying at the IPO price didn’t require payment until the 14th. That would have given others more time to raise the money for payments. And if they had limited to 100 shares more hosts might have been able to participate.

Our ISP had a 12 hour email outage the day the notices were going out. I had to login to keep track of the announcements on the MS directed share site. 

[Rita693]

I was planning to buy whatever price and amount they offer for the IPO. I personally did trading for years so I was so excited about the airbnb IPO. But very upset that I couldn't get it until today even I have been done whatever I need to be done for the begining. 

[Roy-And-Patti0]

another bad thing was that MS asked you how may shares you wanted before you actually committed, than when the time came for real you could only purchase your original shares.- that is if you put 1 share just to go on with with application with no guarrentee you would get accepted, than when you got accepted and did it for real you could only buy 1 share .

[Scott1243]

This is not true.  The original email was asking for your estimate, and said you could change it up until the day of the buy.  The initial range was 7-275.  On the day of the buy, you were able to buy up to 200 shares.

I had a different initial estimate, but bought a different amount on the evening of the actual buy.  Not sure where you got your info, but it is not correct.

[Emilia42]

@Scott1243 I was not able to go beyond my initial estimate of shares. I had originally stated 100 shares. On "the day of buy" I would have gladly bought more but was only allocated 100 shares. 

[Christine615]

@Scott1234 

the original email asked what you would commit to. It stated that once the IPO was finalized you could buy less, but not more. I think the minimum early commitment was 7 shares. 

I committed to 100 shares. It would not allow me to buy more as the DSP was fully subscribed. But I could opt for less So if someone put down 7 shares, that’s the max they would be able to get,

[Scott1243]

@Christine615  Interesting. My initial estimate was 225 (when max was 275), and then adjusted at day of buy to new max of 200. 

More to your point, I actually tried to get back into my estimate a couple days before the buy window, intending to raise to 275. But, the estimate step was gray’d out and not adjustable. That does stink, because it was stated you could adjust your estimate anytime up until the actual buy. 

thanks for clarifying. I am really curious to hear exactly how many hosts actually got in on the dsp (on another string in the forums someone mentioned ~10,000) and how many shares were bought. 

[Emilia42]

@Roy-And-Patti0 That was my experience. Although, I am glad to even had the option to participate because I know now that it was extremely limited. 

[Roy-And-Patti0]

i was accepted. ive been a host for 7 years.  your length of time being a host was  one of the factors. i dont know how much weight it was in determining who got picked