There’s more gloom in the IPO market as Jersey City residents voted overwhelmingly in favor of stricter regulations on short-term rentals amid concerns over rising rents.
The restrictions are a rebuke of Airbnb (AIRB), which spent at least $4.2M on an effort to sway voters, as it prepares to go public.
Officials at Airbnb fear the new proposed regulations would mean an outright ban on listings in New Jersey and that it could mean an end to the company altogether.
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