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{{Short description|Online platform for rental accommodations}} |
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'''Airbnb''' is an online service that matches people seeking [[vacation rental]]s and other short-term accommodations with those with rooms to rent, generally private parties that are not professional hoteliers. |
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{{Use American English|date=April 2019}} |
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{{Use mdy dates|date=May 2022}} |
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{{Infobox company |
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| name = Airbnb, Inc. |
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| logo = Airbnb Logo Bélo.svg |
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| logo_alt = Airbnb logo |
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| image = 888 Brannan, San Francisco, 2016.jpg |
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| image_size = 250px |
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| image_caption = Headquarters at 888 Brannan Street, in San Francisco, California |
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| type = [[Public company|Public]] |
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| industry = [[Lodging]] |
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| traded_as = {{ubl|{{NASDAQ|ABNB}} (Class A)|[[Nasdaq-100]] component|[[S&P 500]] component}} |
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| founded = {{Start date and age|2008|08}} in [[San Francisco, California]], U.S. |
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| founders = {{ubl|[[Brian Chesky]]|[[Joe Gebbia]]|[[Nathan Blecharczyk]]}} |
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| location = {{nowrap|San Francisco, California, U.S.}} |
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| area_served = Worldwide |
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| key_people = {{Unbulleted list|Brian Chesky ([[Chief executive officer|CEO]])|Nathan Blecharczyk ([[Chief strategy officer|CSO]])}} |
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| subsid = {{Plain list| |
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* Luxury Retreats International Inc. |
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* [[Tilt.com]] |
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* [[Accomable]] |
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* Aibiying |
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* Trooly, Inc. |
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* Deco Software Inc. |
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* Trip4real Experiences, S.L. |
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* Larson8, Inc. |
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* MarketLog, Randorphire Inc. |
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* [[HotelTonight]] |
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}} |
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| services = {{ubl|[[Lodging]]|[[Hospitality]]|[[Homestay]]}} |
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| revenue = {{decrease}} {{US$|5.99 billion|link=yes}} (2023) |
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| operating_income = {{decrease}} {{US$|429 million}} (2023) |
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| net_income = {{decrease}} {{US$|-352 million}} (2023) |
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| assets = {{increase}} US$20.6 billion (2023) |
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| equity = {{increase}} US$8.17 billion (2023) |
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| owner = {{ubl|Brian Chesky (10%)|Nathan Blecharczyk (10%)|Joe Gebbia (7%)}} |
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| num_employees = 6,907 (2023) |
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| website = {{URL|airbnb.com}} |
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| footnotes = <ref>{{cite web | title=Company Overview of Airbnb, Inc. | url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=115705393 | publisher=[[Bloomberg L.P.]] | archive-url=https://web.archive.org/web/20180108004352/https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=115705393 | archive-date=January 8, 2018 | url-status=live}}</ref><ref>{{cite web | title=Nathan Blecharczyk | url=https://www.forbes.com/profile/nathan-blecharczyk/ | website=[[Forbes]] | access-date=April 11, 2019 | archive-date=April 13, 2019 | archive-url=https://web.archive.org/web/20190413133057/https://www.forbes.com/profile/nathan-blecharczyk/ | url-status=live }}</ref><ref name=10K>{{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1559720/000155972024000006/abnb-20231231.htm | title=Airbnb, Inc. 2023 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]] | date=February 16, 2024 | access-date=February 17, 2024}}</ref><ref>{{Cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1559720/000119312524102960/d636281ddef14a.htm | title=Airbnb, Inc. 2023 Form 14-A Proxy Statement | publisher=[[U.S. Securities and Exchange Commission]] | date=April 19, 2024}}</ref> |
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}} |
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{{Homestay service}} |
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[[File:AirbnbToronto5.jpg|thumb|Airbnb in Toronto]] |
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'''Airbnb, Inc.''' ({{IPAc-en|ˌ|ɛər|ˌ|b|iː|ɛ|n|ˈ|b|iː}} {{respell|AIR|BEE|en|BEE}}) is an American company operating an [[online marketplace]] for short- and long-term [[homestay]]s and experiences. The company acts as a [[broker]] and charges a [[commission (remuneration)|commission]] from each booking. The company was founded in 2008 by [[Brian Chesky]], [[Nathan Blecharczyk]], and [[Joe Gebbia]]. Airbnb is a shortened version of its original name, AirBedandBreakfast.com. Airbnb is the most well-known company for short-term housing rentals.<ref>{{Cite news |url=https://www.theguardian.com/travel/2013/sep/16/airbnb-travel-revolution|title=Airbnb: the travel revolution in our spare rooms|first=Carole|last=Cadwalladr |newspaper=[[The Observer]]|date=September 16, 2013|via=[[The Guardian]] |access-date=May 11, 2023|archive-date=February 23, 2023|archive-url=https://web.archive.org/web/20230223070506/https://www.theguardian.com/travel/2013/sep/16/airbnb-travel-revolution|url-status=live}}</ref><ref>{{Cite web |last=Thompson |first=Ben |date=July 1, 2015 |title=Airbnb and the Internet Revolution |url=https://stratechery.com/2015/airbnb-and-the-internet-revolution/ |archive-date=March 6, 2023 |archive-url=https://web.archive.org/web/20230306110642/https://stratechery.com/2015/airbnb-and-the-internet-revolution/ |url-status=live |website=Stratechery |access-date=May 11, 2023}}</ref> |
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== History == |
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Airbnb was started in August 2008 by Brian Chesky, who was inspired by observing how hard it was to find an apartment in San Francisco.<ref name="how">[http://bchesky.posterous.com/how-airbnb-started-because-of-an-apartment posterous.com]</ref> The company was [[business incubator|incubated]] at the [[Y Combinator]]. In its first year the company began internationalizing and opened several new offices in Europe.<ref>[http://www.ft.com/cms/s/2/9051978c-8baf-11e0-a725-00144feab49a.html ft.com]</ref> |
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{{toc limit|3}} |
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Touted as a "disruptive" innovation for the Hotel Industry,<ref>[http://techcrunch.com/2011/06/11/fred-wilson-on-disruption-tctv/ techcrunch.com]</ref> Airbnb was awarded the "breakout app" at the 2011 [[South by Southwest]] conference.<ref>[http://laughingmeme.org/2011/03/17/airbnb-was-the-breakout-app-at-sxsw-2011/ techcrunch.com]</ref> |
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==History== |
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Following Airbnb, other services such as Getaround, Vayable and Taskrabbit launched with a similar model.<ref>[http://www.washingtonpost.com/business/technology/will-airbnb-ever-be-the-airbnb-for-x/2011/06/05/AGlGdrJH_story.html washingtonpost.com]</ref> |
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{{For timeline}} |
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After moving to [[San Francisco]] in October 2007, roommates and former schoolmates [[Brian Chesky]] and [[Joe Gebbia]] came up with an idea of putting an [[air mattress]] in their living room and turning it into a [[bed and breakfast]].<ref name=howair>{{cite web | title=How 3 guys turned renting air mattresses in their apartment into a $31 billion company, Airbnb | url=https://www.businessinsider.com/how-airbnb-was-founded-a-visual-history-2016-2 | first=Rebecca | last=Aydin | work=[[Business Insider]] | date=September 20, 2019 | access-date=April 20, 2019 | archive-date=April 8, 2021 | archive-url=https://web.archive.org/web/20210408013939/https://www.businessinsider.com/how-airbnb-was-founded-a-visual-history-2016-2 | url-status=live }}</ref> In February 2008, [[Nathan Blecharczyk]], Chesky's former roommate, joined as the chief technology officer and the third co-founder of the new venture, which they named AirBed & Breakfast.<ref name=howair/><ref>{{cite web | title=New License to Explore: Airbnb's Nathan Blecharczyk '05 | url=https://alumni.harvard.edu/stories/airbnb-nathan-blecharczyk-05 | publisher=[[Harvard University]] | date=September 10, 2015 | access-date=February 20, 2017 | archive-date=February 21, 2017 | archive-url=https://web.archive.org/web/20170221011259/https://alumni.harvard.edu/stories/airbnb-nathan-blecharczyk-05 | url-status=live }}</ref> They put together a website that offered short-term living quarters and breakfast for those who were unable to book a hotel in the saturated market.<ref name=howair/> The site Airbedandbreakfast.com officially launched on August 11, 2008.<ref>{{cite news | last=Schonfeld | first=Erik | title=AirBed And Breakfast Takes Pad Crashing To A Whole New Level | url=https://techcrunch.com/2008/08/11/airbed-and-breakfast-takes-pad-crashing-to-a-whole-new-level/ | work=[[TechCrunch]] | date=August 11, 2008 | access-date=June 25, 2017 | archive-date=September 20, 2015 | archive-url=https://web.archive.org/web/20150920003620/http://techcrunch.com/2008/08/11/airbed-and-breakfast-takes-pad-crashing-to-a-whole-new-level/ | url-status=live }}</ref><ref>{{cite news | last=Geron | first=Tomio | title=From Crash Pad To Pizza Profitable, Start-Up Eyes Budget Travel Market | url=https://www.wsj.com/articles/BL-VCDB-2042 | work=[[The Wall Street Journal]] | date=June 10, 2009 | url-access=subscription | access-date=April 4, 2021 | archive-date=March 7, 2021 | archive-url=https://web.archive.org/web/20210307031706/https://www.wsj.com/articles/BL-VCDB-2042 | url-status=live }}</ref> The founders had their first customers in the summer of 2008, during the Industrial Design Conference held by [[Industrial Designers Society of America]], where travelers had a hard time finding lodging in the city.<ref>{{cite news | last=Drell | first=Lauren | title=How Do Co-Founders Meet? 17 Startups Tell All | url=https://mashable.com/2011/12/25/how-co-founders-met/ | work=[[Mashable]] | date=December 25, 2011 | access-date=April 20, 2019 | archive-date=January 16, 2021 | archive-url=https://web.archive.org/web/20210116225045/https://mashable.com/2011/12/25/how-co-founders-met/ | url-status=live }}</ref> |
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== Financials == |
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Major investors in Airbnb include [[Andreessen Horowitz]] and [[Digital Sky Technologies]] . Airbnb has grown by 800% in 2010 alone and has already booked 1.6 million night stays. Airbnb's valuation has been estimated at 1 billion dollars.<ref>[http://venturebeat.com/2011/05/30/airbnb-raising-100-million-round/ venturebeat.com]</ref><ref>[http://gawker.com/5807189/did-airbnb-scam-its-way-to-1-billion gawker.com]</ref><ref>[http://techcrunch.com/2011/05/30/airbnb-has-arrived-raising-mega-round-at-a-1-billion-valuation/ techcrunch.com]</ref> [[Ashton Kutcher]] also invested in Airbnb.<ref>[http://www.washingtonpost.com/business/technology/disrupt-backstage-pass-ashton-kutcher-on-why-he-invested-in-airbnb/2011/05/30/AGb4CqEH_story.html washingtonpost.com]</ref> |
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After the founders raised $30,000 by selling cereal named after the two candidates of the [[2008 United States presidential election]], [[Barack Obama]] and [[John McCain]], mostly at the 2008 [[Democratic National Convention]],<ref>{{cite news | title=The Business of Politics | url=https://www.wsj.com/articles/SB121803424407616937 | work=[[The Wall Street Journal]] | last=Spors | first=Kelly | date=11 August 2008 | url-access=subscription | access-date=February 20, 2017 | archive-date=February 21, 2017 | archive-url=https://web.archive.org/web/20170221010627/https://www.wsj.com/articles/SB121803424407616937 | url-status=live }}</ref><ref>{{cite news | last=Rusli | first=Evelyn | title=The New Start-Ups at Sun Valley | url=https://dealbook.nytimes.com/2011/07/07/the-new-sun-valley-start-ups/ | work=[[The New York Times]] | date=July 7, 2011 | access-date=February 20, 2017 | archive-date=January 28, 2018 | archive-url=https://web.archive.org/web/20180128132809/https://dealbook.nytimes.com/2011/07/07/the-new-sun-valley-start-ups/ | url-status=live }}</ref><ref name=cash>{{cite news | title=Where to get startup cash now | url=https://money.cnn.com/galleries/2010/smallbusiness/1003/gallery.startup_cash_now/ | publisher=[[CNN]] | last=Peng | first=Tina | date=March 24, 2010 | access-date=October 1, 2022 | archive-date=August 1, 2022 | archive-url=https://web.archive.org/web/20220801223329/https://money.cnn.com/galleries/2010/smallbusiness/1003/gallery.startup_cash_now/ | url-status=live }}</ref><ref name=learn>{{cite news | last=Malik | first=Om | authorlink=Om Malik | title=What Every Startup Can Learn From AirBnB | url=https://om.co/gigaom/airbnb/ | work=[[GigaOm]] | date=February 22, 2011 | archive-date=September 28, 2022 | archive-url=https://web.archive.org/web/20220928091103/https://old.gigaom.com/2011/02/22/airbnb/ | url-status=live }}</ref> computer programmer [[Paul Graham (computer programmer)|Paul Graham]] invited the founders to the January 2009 winter training session of his startup incubator, [[Y Combinator (company)|Y Combinator]], which provided them with training and $20,000 in funding in exchange for a 6% interest in the company.<ref name=howair/><ref name=learn/><ref name=ycombinator>{{cite news | title=Y Combinator's Airbed And Breakfast Casts A Wider Net For Housing Rentals As AirBnB | url=https://techcrunch.com/2009/03/04/y-combinators-airbed-and-breakfast-casts-a-wider-net-for-housing-rentals-as-airbnb/ | last=Rao | first=Leena | work=[[TechCrunch]] | date=March 4, 2009 | access-date=June 25, 2017 | archive-date=July 15, 2011 | archive-url=https://web.archive.org/web/20110715230940/http://techcrunch.com/2009/03/04/y-combinators-airbed-and-breakfast-casts-a-wider-net-for-housing-rentals-as-airbnb/ | url-status=live }}</ref><ref name=112million>{{Cite news |url=https://www.wsj.com/articles/BL-VCDB-11285 |title=Airbnb: From Y Combinator To $112M Funding In Three Years |last=Austin |first=Scott |work=[[The Wall Street Journal]] |date=July 25, 2011 |url-access=subscription |access-date=April 4, 2021 |archive-date=May 14, 2021 |archive-url=https://web.archive.org/web/20210514124132/https://www.wsj.com/articles/BL-VCDB-11285 |url-status=live }}</ref><ref>{{Cite magazine | url=https://www.wired.com/2017/02/airbnbs-surprising-path-to-y-combinator/ | title=Airbnb's Surprising Path to Y Combinator | first=LEIGH | last=GALLAGHER | magazine=[[Wired (magazine)|Wired]] | date=February 21, 2017 | url-access=subscription | access-date=October 1, 2022 | archive-date=September 27, 2022 | archive-url=https://web.archive.org/web/20220927022919/https://www.wired.com/2017/02/airbnbs-surprising-path-to-y-combinator/ | url-status=live }}</ref> With the website already built, they used the [[Y Combinator]] investment to fly to New York to meet users and promote the site.<ref name=cash/> They returned to San Francisco with a profitable business model to present to West Coast investors. By March 2009, the site had 10,000 users and 2,500 listings.<ref name=ycombinator/> |
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== Reception == |
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Airbnb has been praised by [[Paul Graham]],<ref>[http://www.paulgraham.com/airbnb.html paulgraham.com]</ref> [[Wall Street Journal]],<ref>[http://blogs.wsj.com/venturecapital/2011/02/14/airbnb-goes-through-pivots-aplenty-before-finding-its-space/ wsj.com]</ref> and UK's [[Daily Telegraph]].<ref>[http://www.telegraph.co.uk/technology/news/8397476/Airbnb-the-website-that-wants-to-help-you-rent-your-spare-room.html telegraph.co.uk]</ref> |
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In March 2009, the name of the company was shortened to Airbnb.com to eliminate confusion over air mattresses; by then listings included entire rooms and properties.<ref name=howair/> |
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Airbnb has been favorably compared with [[Craigslist]] and [[Groupon]], other sites that provide spur-of-the-moment rentals.<ref>[http://news.yahoo.com/s/digitaltrends/20110606/tc_digitaltrends/howairbnbstolethestartupspotlight yahoo.com]</ref> |
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By November 2010, out of 700,000 nights booked, 80% had occurred in the previous six months.<ref>{{cite news | title=Airbnb Raises Cash to Expand Budget-Travel Service | url=https://bits.blogs.nytimes.com/2010/11/10/airbnb-books-more-cash-to-connect-travelers-with-cheap-digs/ | work=[[The New York Times]] | last=Wortham | first=Jenna | date=November 10, 2010 | url-access=limited | access-date=April 20, 2019 | archive-date=May 14, 2021 | archive-url=https://web.archive.org/web/20210514131356/https://bits.blogs.nytimes.com/2010/11/10/airbnb-books-more-cash-to-connect-travelers-with-cheap-digs/ | url-status=live }}</ref> |
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Airbnb was criticised for spamming [[Craigslist]] users.<ref>[http://www.businessinsider.com/airbnb-craigslist-blame-2011-6 businessinsider.com]</ref> |
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At the March 2011 [[South by Southwest]] conference, Airbnb won the "app" award.<ref>{{cite news | title=Airbnb Mobile App Stands Out at SXSW | url=https://www.inc.com/articles/201103/airbnb-mobile-app-stands-out-at-sxsw.html | first=Tiffany | last=Black | work=[[Inc. (magazine)|Inc.]] | date=March 15, 2011 | url-access=limited | access-date=April 20, 2019 | archive-date=May 14, 2021 | archive-url=https://web.archive.org/web/20210514124515/https://www.inc.com/articles/201103/airbnb-mobile-app-stands-out-at-sxsw.html | url-status=live }}</ref> |
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In November 2012, Airbnb launched "Neighborhoods", a [[Guide book|travel guide]] of 23 cities that helps travelers choose a neighborhood in which to stay based on certain criteria and personal preferences.<ref>{{cite news | last=Roy | first=Jessica | title=Introducing Airbnb Neighborhoods, a Local Guide for Travelers Deciding Where to Stay | url=https://observer.com/2012/11/introducing-airbnb-neighborhoods-a-local-guide-for-travelers-deciding-which-neighborhood-to-stay-in/ | work=[[The Observer]] | date=November 13, 2012 | access-date=April 20, 2019 | archive-date=August 13, 2018 | archive-url=https://web.archive.org/web/20180813000746/http://observer.com/2012/11/introducing-airbnb-neighborhoods-a-local-guide-for-travelers-deciding-which-neighborhood-to-stay-in/ | url-status=live }}</ref> |
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By October 2013, Airbnb had served 9,000,000 guests since its founding in August 2008.<ref>{{cite news | last=Lawler | first=Ryan | title=Airbnb Has Now Served 9M Guests Since Being Founded, Up From 4M At The End Of Last Year | url=https://techcrunch.com/2013/10/19/airbnb-has-now-served-9m-guests-since-being-founded-up-from-4m-at-the-end-of-last-year/ | work=[[TechCrunch]] | date=October 20, 2013 | access-date=February 20, 2017 | archive-date=February 21, 2017 | archive-url=https://web.archive.org/web/20170221005925/https://techcrunch.com/2013/10/19/airbnb-has-now-served-9m-guests-since-being-founded-up-from-4m-at-the-end-of-last-year/ | url-status=live }}</ref> Nearly 250,000 listings were added in 2013.<ref>{{cite news | last=Lawler | first=Ryan | title=Airbnb Tops 10 Million Guest Stays Since Launch, Now Has 550,000 Properties Listed Worldwide | url=https://techcrunch.com/2013/12/19/airbnb-10m/ | work=[[TechCrunch]] | date=December 19, 2013 | access-date=February 20, 2017 | archive-date=February 21, 2017 | archive-url=https://web.archive.org/web/20170221010416/https://techcrunch.com/2013/12/19/airbnb-10m/ | url-status=live }}</ref> |
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In July 2014, Airbnb revealed design revisions to the site and mobile app and introduced a new logo. The logo, called the Bélo, is intended to serve as a symbol of "belonging", and consists of four elements: a head which represents people, a location icon that represents place, a heart to symbolize love, and a letter "A" to stand for the company's name.<ref>{{cite news | last=Baldwin | first=Roberto | title=Airbnb updates design and introduces controversial new Bélo logo | url=https://thenextweb.com/dd/2014/07/16/airbnb-updates-design-introduces-new-belo-logo/ | work=[[The Next Web]] | date=July 16, 2014 | access-date=June 18, 2018 | archive-date=June 11, 2018 | archive-url=https://web.archive.org/web/20180611080445/https://thenextweb.com/dd/2014/07/16/airbnb-updates-design-introduces-new-belo-logo/ | url-status=live }}</ref><ref>{{cite news | last=Clifford | first=Catherine | url=https://www.entrepreneur.com/article/235709 | title=Airbnb, Why the New Logo? | work=[[Entrepreneur (magazine)|Entrepreneur]] | date=July 17, 2014 | archive-date=May 29, 2019 |archive-url=https://web.archive.org/web/20190529015911/https://www.entrepreneur.com/article/235709 | url-status=live}}</ref> It also announced a partnership with Concur, an expense reporting service for businesses, to make it easier for business travelers to report Airbnb stays as business expenses.<ref>{{cite news | url=https://techcrunch.com/2014/07/28/airbnb-concur/ | title=It's Business Time: Airbnb Targets Work Travelers With Concur Partnership | last=Lawler | first=Ryan | work=[[TechCrunch]] | date=July 28, 2014 | access-date=October 1, 2022 | archive-date=October 1, 2022 | archive-url=https://web.archive.org/web/20221001154454/https://techcrunch.com/2014/07/28/airbnb-concur/ | url-status=live }}</ref> |
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In April 2015, following the easing of restrictions on U.S. businesses to operate in [[Cuba]], Airbnb expanded to Cuba, making it one of the first U.S. companies to do so.<ref>{{cite news | last=Olorunnipa | first=Toluse | title=Cuba Is Fastest-Growing Market for Airbnb as Obama Cracks Door | url=https://www.bloomberg.com/news/articles/2015-05-11/cuba-is-fastest-growing-market-for-airbnb-as-obama-cracks-door | publisher=[[Bloomberg News]] | date=May 11, 2015 | access-date=March 5, 2017 | archive-date=August 17, 2021 | archive-url=https://web.archive.org/web/20210817034254/https://www.bloomberg.com/news/articles/2015-05-11/cuba-is-fastest-growing-market-for-airbnb-as-obama-cracks-door | url-status=live }}</ref><ref>{{cite news | title=Here's what it's like to stay in a Cuban Airbnb, where everything looked great but was actually broken | url=https://www.businessinsider.com/what-its-like-to-stay-in-an-airbnb-in-havana-cuba-2015-6 | last=Macias | first=Amanda | work=[[Business Insider]] | date=June 30, 2015 | access-date=April 20, 2019 | archive-date=May 14, 2021 | archive-url=https://web.archive.org/web/20210514130439/https://www.businessinsider.com/what-its-like-to-stay-in-an-airbnb-in-havana-cuba-2015-6 | url-status=live }}</ref> |
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In July 2016, former Attorney General [[Eric Holder]] was hired to help craft an [[Anti-discrimination law|anti-discrimination policy]] for Airbnb after reports showed that hosts were refusing to accept lodging requests from guests whose names suggested that they were black.<ref>{{cite news | url=https://www.washingtonpost.com/news/business/wp/2016/07/20/eric-holder-joins-airbnb-to-help-company-fight-discrimination/ | first1=Abha | last1=Bhattarai | first2=Emily | last2=Badger | title=Airbnb hires Eric Holder to help company fight discrimination | newspaper=[[The Washington Post]] | date=July 20, 2016 | access-date=July 21, 2016 | archive-date=July 21, 2016 | archive-url=https://web.archive.org/web/20160721125947/https://www.washingtonpost.com/news/business/wp/2016/07/20/eric-holder-joins-airbnb-to-help-company-fight-discrimination/ | url-status=live }}</ref> As part of the reform, photos of prospective guests are hidden from hosts until requests for lodging are accepted.<ref>{{Cite news | first=AARTI | last=SHAHANI | date=September 8, 2016 | title=Airbnb Agrees To Make Reforms After Allegations Of Discrimination | url=https://www.npr.org/2016/09/08/493157945/airbnb-agrees-to-make-reforms-after-allegations-of-discrimination | archive-url=https://web.archive.org/web/20210917184323/https://www.npr.org/2016/09/08/493157945/airbnb-agrees-to-make-reforms-after-allegations-of-discrimination | archive-date=September 17, 2021 |work=[[All Things Considered]] | publisher=[[NPR]] | url-status=live | access-date=September 17, 2021 }}</ref> |
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In November 2016, Airbnb launched "experiences", whereby users can use the platform to book activities.<ref>{{cite news |url=https://techcrunch.com/2016/11/17/airbnb-is-turning-itself-into-an-experience-machine-beyond-just-booking-places-to-stay/ |title=Airbnb is turning itself into an 'experience' machine beyond just booking places to stay |first=Matthew |last=Lynley |work=[[TechCrunch]] |date=November 17, 2016 |access-date=October 1, 2022 |archive-date=September 24, 2022 |archive-url=https://web.archive.org/web/20220924200115/https://techcrunch.com/2016/11/17/airbnb-is-turning-itself-into-an-experience-machine-beyond-just-booking-places-to-stay/ |url-status=live }}</ref> |
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In January 2017, along with serial entrepreneurs [[Gary Vaynerchuk]], Ben Leventhal and Mike Montero, Airbnb led a $13 million investment in [[Resy]], a restaurant reservation-booking app.<ref>{{cite news | first=Avery | last=Hartmans | url=https://www.businessinsider.com/resy-airbnb-investment-2017-1 | title=Reservation-booking app Resy just got a massive investment from Airbnb, one of the most valuable startups in the world | work=[[Business Insider]] | date=January 9, 2017 | access-date=April 20, 2019 | archive-date=November 24, 2018 | archive-url=https://web.archive.org/web/20181124195735/https://www.businessinsider.com/resy-airbnb-investment-2017-1 | url-status=live }}</ref> |
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In May 2017, the company launched Airbnbmag, a magazine co-published with [[Hearst Communications]].<ref>{{cite news | url=https://www.hearst.com/-/hearst-magazines-new-airbnbmag-encourages-readers-to-be-at-home-in-the-world | title=Hearst Magazines' New Airbnbmag Encourages Readers to Be at Home in the World | first=CARLEIGH | last=STIEHM | publisher=[[Hearst Communications]] | date=May 22, 2017 | access-date=June 1, 2021 | archive-date=June 2, 2021 | archive-url=https://web.archive.org/web/20210602213944/https://www.hearst.com/-/hearst-magazines-new-airbnbmag-encourages-readers-to-be-at-home-in-the-world | url-status=live }}</ref> |
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In February 2018, the company announced Airbnb Plus, a collection of homes that have been vetted for quality of services, comfort and design,<ref>{{Cite news | url=https://www.architecturaldigest.com/story/the-secret-to-getting-your-home-on-airbnb-plus | title=The Secret to Getting Your Home on Airbnb Plus | first=Amanda | last=Sims | work=[[Architectural Digest]] | date=March 6, 2018 | access-date=March 14, 2018 | archive-date=May 14, 2021 | archive-url=https://web.archive.org/web/20210514131523/https://www.architecturaldigest.com/story/the-secret-to-getting-your-home-on-airbnb-plus | url-status=live }}</ref> as well as Beyond by Airbnb, which offers luxury vacation rentals.<ref>{{cite news | url=https://skift.com/2018/02/22/airbnb-plus-and-everything-ceo-brian-chesky-just-announced/ | title=Airbnb Plus and Everything CEO Brian Chesky Just Announced | first=Deanna | last=Ting | work=[[Skift]] | date=February 22, 2018 | access-date=March 14, 2018 | archive-date=May 14, 2021 | archive-url=https://web.archive.org/web/20210514131553/https://skift.com/2018/02/22/airbnb-plus-and-everything-ceo-brian-chesky-just-announced/ | url-status=live }}</ref> By October 2019, two million people were staying with Airbnb each night.<ref>{{Cite news | url=https://www.cnn.com/travel/article/airbnb-ibiza-spain-penthouse-scam-trnd/index.html | title=British couple spends $11,800 on Airbnb rental that doesn't exist | first=Stacey | last=Lastoe | publisher=[[CNN]] | date=September 30, 2019 | access-date=October 12, 2019 | archive-date=October 9, 2019 | archive-url=https://web.archive.org/web/20191009015025/https://www.cnn.com/travel/article/airbnb-ibiza-spain-penthouse-scam-trnd/index.html | url-status=live }}</ref> |
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In April 2019, Airbnb produced and financed ''[[Gay Chorus Deep South]]'', a documentary launched by its Rausch Street Films division. The rights were sold to [[MTV]], which aired the program on its network.<ref>{{Cite news | url=https://www.screendaily.com/news/mtv-documentary-films-lines-up-awards-run-for-gay-chorus-deep-south/5142930.article | title=MTV Documentary Films lines up awards run for 'Gay Chorus Deep South' | first=Jeremy | last=Kay | work=[[Screen International]] | date=September 16, 2019 | access-date=January 21, 2020 | archive-date=September 18, 2019 | archive-url=https://web.archive.org/web/20190918003224/https://www.screendaily.com/news/mtv-documentary-films-lines-up-awards-run-for-gay-chorus-deep-south/5142930.article | url-status=live }}</ref><ref>{{Cite news | url=https://variety.com/2019/digital/news/airbnb-first-film-gay-chorus-deep-south-tribeca-1203192733/ | title=Why Airbnb Produced Documentary 'Gay Chorus Deep South,' Its First-Ever Film | first=Todd | last=Spangler | work=[[Variety (magazine)|Variety]] | date=April 18, 2019 | access-date=January 21, 2020 | archive-date=March 6, 2020 | archive-url=https://web.archive.org/web/20200306150916/https://variety.com/2019/digital/news/airbnb-first-film-gay-chorus-deep-south-tribeca-1203192733/ | url-status=live }}</ref><ref>{{Cite news | url=https://www.latimes.com/entertainment-arts/story/2019-12-20/movies-on-tv-this-week-sunday-dec-22-2019 | title=Movies on TV this week: Sunday, Dec. 22, 2019 | date=December 20, 2019 | work=[[Los Angeles Times]] | url-access=limited | access-date=January 21, 2020 | archive-date=January 12, 2020 | archive-url=https://web.archive.org/web/20200112101639/https://www.latimes.com/entertainment-arts/story/2019-12-20/movies-on-tv-this-week-sunday-dec-22-2019 | url-status=live }}</ref> |
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On [[World Animal Day]] (October 4) in 2019, Airbnb launched a new standalone category of experiences focused on those involving animals, as well as an animal welfare policy created with and backed by [[World Animal Protection]].<ref>{{Cite news |last=Glusac |first=Elaine |title=New Airbnb Excursions to Focus on Animals |work=The New York Times |url=https://www.nytimes.com/2019/10/03/travel/airbnb-animal-experiences.html |date=October 3, 2019 | url-access=limited |issn=0362-4331}}</ref> |
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During the [[COVID-19 pandemic]], bookings dropped as much as 96% in some cities.<ref>{{Cite news | title=Airbnb Bookings Plunge Amid Coronavirus Pandemic | url=https://www.wsj.com/articles/airbnb-bookings-plunge-amid-coronavirus-pandemic-11584032412 | first=Preetika | last=Rana | work=[[The Wall Street Journal]] | date=March 12, 2020 | url-access=subscription | access-date=July 17, 2021 | archive-date=July 17, 2021 | archive-url=https://web.archive.org/web/20210717060544/https://www.wsj.com/articles/airbnb-bookings-plunge-amid-coronavirus-pandemic-11584032412 | url-status=live }}</ref> However, bookings rose in many rural areas.<ref>{{Cite news | url=https://www.cnbc.com/2020/08/06/rural-airbnb-bookings-are-surging-as-vacationers-look-to-escape-the-coronavirus.html | title=Rural Airbnb bookings are surging as vacationers look to escape the coronavirus | first=Michelle | last=Gao | publisher=[[CNBC]] | date=August 6, 2020 | access-date=July 17, 2021 | archive-date=July 17, 2021 | archive-url=https://web.archive.org/web/20210717060546/https://www.cnbc.com/2020/08/06/rural-airbnb-bookings-are-surging-as-vacationers-look-to-escape-the-coronavirus.html | url-status=live }}</ref> The company pledged $250 million in payouts to hosts to compensate them for guest cancellations due to the pandemic.<ref>{{Cite news | url=https://thehill.com/policy/finance/490289-airbnb-plans-250m-payout-for-hosts-who-lost-money-amid-pandemic | title=Airbnb plans $250M payout for hosts who lost money amid pandemic | last=Coleman | first=Justine | website=[[The Hill (newspaper)|The Hill]] | date=March 30, 2020 | access-date=April 6, 2020 | archive-date=November 25, 2020 | archive-url=https://web.archive.org/web/20201125031815/https://thehill.com/policy/finance/490289-airbnb-plans-250m-payout-for-hosts-who-lost-money-amid-pandemic | url-status=live }}</ref><ref>{{Cite web | url=https://news.airbnb.com/a-letter-to-hosts/ | title=A Letter to Hosts | publisher=Airbnb | date=March 30, 2020 | access-date=April 6, 2020 | archive-date=April 5, 2020 | archive-url=https://web.archive.org/web/20200405170357/https://news.airbnb.com/a-letter-to-hosts/ | url-status=live }}</ref> The company also [[Layoff|laid off]] approximately 1,900 employees, or about 25% of its workforce in the Americas, Europe, and Asia due to the pandemic.<ref>{{cite news | last=Yurieff | first=Kaya | url=https://www.cnn.com/2020/05/05/tech/airbnb-layoffs/index.html | title=Airbnb is laying off 25% of its employees | publisher=[[CNN]] | date=May 5, 2020 | access-date=May 5, 2020 | archive-date=May 5, 2020 | archive-url=https://web.archive.org/web/20200505205510/https://www.cnn.com/2020/05/05/tech/airbnb-layoffs/index.html | url-status=live }}</ref><ref>{{Cite news | url=https://www.nytimes.com/2020/07/17/technology/airbnb-coronavirus-layoffs-.html | title=Airbnb Was Like a Family, Until the Layoffs Started | first=Erin | last=Griffith | work=[[The New York Times]] | date=July 17, 2020 | url-access=limited | access-date=July 17, 2021 | archive-date=July 17, 2021 | archive-url=https://web.archive.org/web/20210717060544/https://www.nytimes.com/2020/07/17/technology/airbnb-coronavirus-layoffs-.html | url-status=live }}</ref> |
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On December 10, 2020, the company became a [[public company]] via an [[initial public offering]], raising $3.5 billion.<ref>{{Cite news | url=https://www.npr.org/2020/12/10/944931270/airbnb-defying-pandemic-fears-takes-its-company-public-in-ipo | title=Airbnb Now A $100 Billion Company After Stock Market Debut Sees Stock Price Double | first1=BOBBY | last1=ALLYN | first2=AVIE | last2=SCHNEIDER | publisher=[[NPR]] | date=December 10, 2020 | access-date=March 7, 2021 | archive-date=March 4, 2021 | archive-url=https://web.archive.org/web/20210304055023/https://www.npr.org/2020/12/10/944931270/airbnb-defying-pandemic-fears-takes-its-company-public-in-ipo | url-status=live }}</ref> Shares valued at $238 million were offered to hosts on the platform at the price of $68 per share.<ref>{{Cite news | url=https://www.reuters.com/article/us-airbnb-ipo-hosts/airbnb-hosts-see-windfall-from-wild-ipo-gains-idUSKBN28K3BS | first1=Krystal | last1=Hu | first2=Jane Lanhee | last2=Lee | title=Airbnb hosts see windfall from wild IPO gains | publisher=[[Reuters]] | date=December 10, 2020 | access-date=February 15, 2022 | archive-date=February 15, 2022 | archive-url=https://web.archive.org/web/20220215211803/https://www.reuters.com/article/us-airbnb-ipo-hosts/airbnb-hosts-see-windfall-from-wild-ipo-gains-idUSKBN28K3BS | url-status=live }}</ref> |
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In March 2022, Airbnb suspended business in [[Russia]] and [[Belarus]] due to the sanctions resulting from the [[Russian invasion of Ukraine]].<ref>{{Cite news | url=https://www.theguardian.com/technology/2022/mar/04/airbnb-suspends-all-operations-in-russia-and-belarus | title=Airbnb suspends all operations in Russia and Belarus | first=Mark | last=Sweney | work=[[The Guardian]] | date=March 4, 2022 | access-date=October 1, 2022 | archive-date=March 5, 2022 | archive-url=https://web.archive.org/web/20220305202143/https://www.theguardian.com/technology/2022/mar/04/airbnb-suspends-all-operations-in-russia-and-belarus | url-status=live }}</ref><ref>{{Cite news | url=https://www.cnbc.com/2022/03/04/airbnb-is-suspending-all-operations-in-russia-and-belarus-.html | title=Airbnb is suspending all operations in Russia and Belarus | first=Sam | last=Shead | publisher=[[CNBC]] | date=March 4, 2022 | access-date=October 1, 2022 | archive-date=September 28, 2022 | archive-url=https://web.archive.org/web/20220928123430/https://www.cnbc.com/2022/03/04/airbnb-is-suspending-all-operations-in-russia-and-belarus-.html | url-status=live }}</ref> |
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In May 2022, Airbnb ceased operations in China.<ref>{{Cite news | last=Bosa | first=Deirdre | title=Airbnb is closing its domestic business in China, sources say | url=https://www.cnbc.com/2022/05/23/airbnb-is-closing-its-domestic-business-in-china-sources-say.html | publisher=[[CNBC]] | date=May 23, 2022 | access-date=October 1, 2022 | archive-date=October 1, 2022 | archive-url=https://web.archive.org/web/20221001152037/https://www.cnbc.com/2022/05/23/airbnb-is-closing-its-domestic-business-in-china-sources-say.html | url-status=live }}</ref> The decision was made primarily because of [[Chinese government response to COVID-19#Zero-COVID policy|China's Zero-COVID policy]], as well as complicated and expensive laws and regulations that required Airbnb to send detailed information on guests to the [[Government of China]], which can be used to track people.<ref>{{cite news | url=https://www.bbc.com/news/business-61560385 | title=Airbnb to quit China as lockdowns restrict tourism | publisher=[[BBC News]] | date=May 23, 2022 | access-date=October 1, 2022 | archive-date=October 1, 2022 | archive-url=https://web.archive.org/web/20221001152037/https://www.bbc.com/news/business-61560385 | url-status=live }}</ref><ref>{{Cite news | last1=Ye | first1=Josh | last2=Goh | first2=Brenda | title=Airbnb to shut domestic business in China from July 30 | publisher=[[Reuters]] | url=https://www.reuters.com/markets/asia/airbnb-says-will-shut-domestic-business-china-july-30-2022-05-24/ | date=May 24, 2022 | access-date=October 1, 2022 | archive-date=October 1, 2022 | archive-url=https://web.archive.org/web/20221001152039/https://www.reuters.com/markets/asia/airbnb-says-will-shut-domestic-business-china-july-30-2022-05-24/ | url-status=live }}</ref><ref>{{Cite news | last=Davidson | first=Helen | title=Airbnb to close in China amid repeated Covid lockdowns | work=[[The Guardian]] | url=https://amp.theguardian.com/technology/2022/may/24/airbnb-to-close-in-china-amid-repeated-covid-lockdowns | date=May 24, 2022 | access-date=October 1, 2022 | archive-date=October 1, 2022 | archive-url=https://web.archive.org/web/20221001152037/https://amp.theguardian.com/technology/2022/may/24/airbnb-to-close-in-china-amid-repeated-covid-lockdowns | url-status=live }}</ref> Airbnb was accused of being too willing to provide this information, which led to the resignation of an Airbnb executive, who was also a former deputy director of the [[Federal Bureau of Investigation]], in 2019 after 6 months of working.<ref>{{Cite news | title=Airbnb Executive Resigned Last Year Over Chinese Request for More Data Sharing | url=https://www.wsj.com/articles/airbnb-executive-resigned-last-year-over-chinese-request-for-more-data-sharing-11605896753 | last1=Volz | first1=Dustin | last2=Grind | first2=Kirsten | work=[[The Wall Street Journal]] | date=November 20, 2020 | issn=0099-9660 | access-date=November 20, 2020 | archive-date=November 20, 2020 | archive-url=https://web.archive.org/web/20201120222015/https://www.wsj.com/articles/airbnb-executive-resigned-last-year-over-chinese-request-for-more-data-sharing-11605896753 | url-status=live }}</ref><ref>{{cite news | last=Campbell | first=Ian Carlos | title=Airbnb's Chinese data policies reportedly cost it an executive | url=https://www.theverge.com/2020/11/20/21585500/airbnb-trust-officer-resignation-privacy-concerns-china-data-sharing | work=[[The Verge]] | date=November 20, 2020 | access-date=November 22, 2020 | archive-date=November 23, 2020 | archive-url=https://web.archive.org/web/20201123134019/https://www.theverge.com/2020/11/20/21585500/airbnb-trust-officer-resignation-privacy-concerns-china-data-sharing | url-status=live }}</ref> Airbnb had also been accused of allowing listings on land owned by the [[Xinjiang Production and Construction Corps]], a Chinese state-owned paramilitary entity sanctioned under the [[Magnitsky Act]] for involvement in the [[persecution of Uyghurs in China]].<ref>{{Cite news | url=https://www.axios.com/airbnb-xinjiang-listings-sanctions-china-766dae2f-91e0-4a3e-9656-544ef8f35db0.html | last1=Allen-Ebrahimian | first1=Bethany | last2=Schrag | first2=Jacque | title=Airbnb hosts Xinjiang rentals on land owned by sanctioned group | work=[[Axios (website)|Axios]] | date=November 30, 2021 | access-date=November 30, 2021 | archive-date=November 30, 2021 | archive-url=https://web.archive.org/web/20211130205654/https://www.axios.com/airbnb-xinjiang-listings-sanctions-china-766dae2f-91e0-4a3e-9656-544ef8f35db0.html | url-status=live }}</ref><ref>{{Cite news | url=https://www.reuters.com/business/us-lawmakers-raise-concerns-about-airbnb-business-xinjiang-2022-01-07/ | title=U.S. lawmakers raise concerns about Airbnb business in Xinjiang | first=David | last=Shepardson | publisher=[[Reuters]] | date=January 7, 2022 | access-date=January 7, 2022 | archive-date=January 7, 2022 | archive-url=https://web.archive.org/web/20220107184236/https://www.reuters.com/business/us-lawmakers-raise-concerns-about-airbnb-business-xinjiang-2022-01-07/ | url-status=live }}</ref> In 2019, certain hosts in China were accused of discrimination by refusing to rent to [[Uyghurs]].<ref>{{Cite magazine | url=https://www.wired.co.uk/article/airbnb-china-uyghur-muslim | title=Airbnb listings in China are littered with racist discrimination | last=Rollet | first=Charles | magazine=[[Wired (magazine)|Wired]] | date=May 3, 2019 | issn=1357-0978 | access-date=June 9, 2019 | archive-date=June 15, 2019 | archive-url=https://web.archive.org/web/20190615004808/https://www.wired.co.uk/article/airbnb-china-uyghur-muslim | url-status=live }}</ref> |
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After temporarily banning parties in homes rented on the platform in August 2020 due to the [[COVID-19 pandemic]],<ref>{{cite news | last=Griffith | first=Erin | title=Airbnb Fights Its 'Party House Problem' | url=https://www.nytimes.com/2020/10/27/business/airbnb-party-house-coronavirus.html | work=[[The New York Times]] | date=October 27, 2020 | url-access=limited | access-date=December 5, 2020 | archive-date=December 5, 2020 | archive-url=https://web.archive.org/web/20201205162258/https://www.nytimes.com/2020/10/27/business/airbnb-party-house-coronavirus.html | url-status=live }}</ref> in June 2022, Airbnb announced that it will permanently ban parties and events in homes on its platform, a position supported by hosts and their neighbors who complained of nuisances at Airbnb properties.<ref>{{cite news | url=https://www.bbc.com/news/business-61976350 | title=Airbnb permanently bans parties and events around the world | publisher=[[BBC News]] | date=June 29, 2022 | access-date=October 1, 2022 | archive-date=October 1, 2022 | archive-url=https://web.archive.org/web/20221001152037/https://www.bbc.com/news/business-61976350 | url-status=live }}</ref> In August 2022, Airbnb rolled out technology to enforce this ban.<ref>{{cite news | url=https://www.fastcompany.com/90779268/exclusive-airbnb-introduces-new-anti-party-tech-in-the-u-s-and-canada | title=Exclusive: Airbnb rolls out new anti-party tech to prevent unapproved gatherings | work=[[Fast Company]] | date=August 16, 2022 | access-date=October 1, 2022 | archive-date=September 8, 2022 | archive-url=https://web.archive.org/web/20220908204845/https://www.fastcompany.com/90779268/exclusive-airbnb-introduces-new-anti-party-tech-in-the-u-s-and-canada | url-status=live }}</ref> |
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In March 2024, Airbnb announced a ban on indoor cameras for properties listed on the site, scheduled to take effect on April 30. The changes also involve a requirement for hosts to disclose the use of noise-decibel monitoring equipment.<ref>{{cite web |last1=Malik |first1=Aisha |title=Airbnb is banning indoor security cameras inside its listings |url=https://techcrunch.com/2024/03/11/airbnb-is-banning-indoor-security-cameras-inside-its-listings/ |website=TechCrunch |access-date=11 March 2024 |date=11 March 2024}}</ref> |
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===Acquisitions=== |
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{| class="wikitable sortable" |
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|- |
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! scope="col" | # |
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! scope="col" | Date |
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! scope="col" | Company |
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! scope="col" | Notes |
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! scope="col" class="unsortable" | Ref(s). |
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|- |
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| 1 |
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| {{dts|2011|05}} |
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| Accoleo |
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| German competitor; launched the first international Airbnb office, in [[Hamburg]] |
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| |
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<ref name=acquired>{{Cite news | url=https://www.businessinsider.com/airbnb-acquisitions-tilt-crashpadder-nabewise-2020-1 | title=Here are all the companies Airbnb has acquired to help it grow into a $31 billion business | last=Sonnemaker | first=Tyler | work=[[Business Insider]] | date=January 31, 2020 | url-access=subscription | archive-date=January 13, 2020 | archive-url=https://web.archive.org/web/20200113173143/https://www.businessinsider.com/airbnb-acquisitions-tilt-crashpadder-nabewise-2020-1 | url-status=live }}</ref><ref>{{cite news | title=Airbnb moves 'aggressively' into Europe | url=https://www.ft.com/content/9051978c-8baf-11e0-a725-00144feab49a | last=Bradshaw | first=Tim | work=[[Financial Times]] | date=May 31, 2011 | url-access=subscription | archive-date=February 5, 2018 | archive-url=https://web.archive.org/web/20180205072841/https://www.ft.com/content/9051978c-8baf-11e0-a725-00144feab49a | url-status=live }}</ref><ref>{{cite news | title=Airbnb buys German clone Accoleo, opens first European office in Hamburg | url=https://techcrunch.com/2011/06/01/airbnb-buys-german-clone-accoleo-opens-first-european-office-in-hamburg/ | last=Wauters | first=Robin | work=[[TechCrunch]] | date=June 1, 2011 | archive-date=April 10, 2018 | archive-url=https://web.archive.org/web/20180410184621/https://techcrunch.com/2011/06/01/airbnb-buys-german-clone-accoleo-opens-first-european-office-in-hamburg/ | url-status=live }}</ref> |
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|- |
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| 2 |
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| {{dts|2012|03}} |
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| CrashPadder |
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| Added 6,000 international listings to its existing inventory; made Airbnb the largest lodging website in the United Kingdom. |
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| <ref>{{Cite news | url=https://techcrunch.com/2012/03/20/airbnb-acquires-uk-based-crashpadder-as-part-of-international-growth-push/ | title=Airbnb Acquires UK-based Crashpadder As Part Of International Growth Push | first=Colleen | last=Taylor | work=[[TechCrunch]] | date=February 20, 2012 | archive-date=March 31, 2018 | archive-url=https://web.archive.org/web/20180331174102/https://techcrunch.com/2012/03/20/airbnb-acquires-uk-based-crashpadder-as-part-of-international-growth-push/ | url-status=live }}</ref><ref>{{cite news | last=Kerr | first=Dana | title=Airbnb buys Crashpadder, its largest U.K. competitor | url=https://www.cnet.com/news/airbnb-buys-crashpadder-its-largest-u-k-competitor/ | work=[[CNET]] | date=March 20, 2012 | archive-date=March 28, 2019 | archive-url=https://web.archive.org/web/20190328131253/https://www.cnet.com/news/airbnb-buys-crashpadder-its-largest-u-k-competitor/ | url-status=live }}</ref><ref>{{cite news | title=Airbnb M&A Acquisitions Airbnb Acquires UK-based Crashpadder As Part Of International Growth Push | url=https://techcrunch.com/2012/03/20/airbnb-acquires-uk-based-crashpadder-as-part-of-international-growth-push/ | first=Colleen | last=Taylor | work=[[TechCrunch]] | date=March 20, 2012 | archive-date=March 31, 2018 | archive-url=https://web.archive.org/web/20180331174102/https://techcrunch.com/2012/03/20/airbnb-acquires-uk-based-crashpadder-as-part-of-international-growth-push/ | url-status=live }}</ref> |
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|- |
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| 3 |
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| {{dts|2012|11}} |
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| NabeWise |
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| Online city guide that aggregates curated information for specified locations; shifted the company's focus toward offering [[hyperlocal]] recommendations to travelers |
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| <ref>{{cite news | url=https://fortune.com/2012/11/13/with-neighborhoods-airbnb-expands-its-horizons/ | title=With Neighborhoods, Airbnb expands its horizons | last=Hempel | first=Jessi | work=[[Fortune (magazine)|Fortune]] | date=November 13, 2012 | archive-date=April 17, 2021 | archive-url=https://web.archive.org/web/20210417160538/https://fortune.com/2012/11/13/with-neighborhoods-airbnb-expands-its-horizons/ | url-status=live }}</ref><ref>{{cite news | title=Airbnb Launches Neighborhoods For Hyper-Local Travel Guides | url=https://www.forbes.com/sites/tomiogeron/2012/11/14/airbnb-neighborhoods-brings-travel-guides-to-hyper-local-level/ | work=[[Forbes]] | last=Geron | first=Tomio | date=November 14, 2012 | archive-date=September 20, 2015 | archive-url=https://web.archive.org/web/20150920072814/http://www.forbes.com/sites/tomiogeron/2012/11/14/airbnb-neighborhoods-brings-travel-guides-to-hyper-local-level/ | url-status=live }}</ref> |
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|- |
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| 4 |
|||
| {{dts|2012|12}} |
|||
| Localmind |
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| a location-based question and answer platform |
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| <ref>{{cite news | title=Why did Airbnb just buy Localmind? Local expertise | url=https://venturebeat.com/2012/12/13/airbnb-acquires-localmind/ | work=[[VentureBeat]] | last=Van Grove | first=Jennifer | date=December 13, 2012 | archive-date=November 19, 2017 | archive-url=https://web.archive.org/web/20171119212048/https://venturebeat.com/2012/12/13/airbnb-acquires-localmind/ | url-status=live }}</ref> |
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|- |
|||
| 5 |
|||
| {{dts|2015|09}} |
|||
| Vamo |
|||
| Immediately shut down the company, acquiring its employees |
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| <ref>{{cite news | url=http://www.geekwire.com/2015/airbnb-acquires-seattle-based-trip-planning-service-vamo-founded-by-former-facebook-exec/ | title=Airbnb acquires Seattle-based trip planning service Vamo, founded by former Facebook exec | last=Risley | first=James | work=[[GeekWire]] | date=September 11, 2015 | archive-date=September 28, 2022 | archive-url=https://web.archive.org/web/20220928214819/https://www.geekwire.com/2015/airbnb-acquires-seattle-based-trip-planning-service-vamo-founded-by-former-facebook-exec/ | url-status=live }}</ref><ref>{{cite news | url=https://techcrunch.com/2015/09/11/airbnb-acquires-multi-city-trip-planning-service-vamo-will-shut-down-product/ | title=Airbnb Acquires Multi-City Trip Planning Service Vamo, Will Shut Down Product | last=Lynley | first=Matthew | work=[[TechCrunch]] | date=September 11, 2015 | archive-date=September 28, 2022 | archive-url=https://web.archive.org/web/20220928022949/https://techcrunch.com/2015/09/11/airbnb-acquires-multi-city-trip-planning-service-vamo-will-shut-down-product/ | url-status=live }}</ref> |
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|- |
|||
| 6 |
|||
| {{dts|2015|09}} |
|||
| Lapka |
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| Sensor startup |
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| <ref>{{Cite news | url=https://www.zdnet.com/article/airbnb-quietly-acquires-sensor-startup-lapka/ | title=Airbnb quietly acquires connected sensor startup Lapka | first=Rachel | last=King | work=[[ZDNet]] | date=September 29, 2015 | archive-date=September 27, 2022 | archive-url=https://web.archive.org/web/20220927214538/https://www.zdnet.com/article/airbnb-quietly-acquires-sensor-startup-lapka/ | url-status=live }}</ref> |
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|- |
|||
| 7 |
|||
| {{dts|2016|09}} |
|||
| Trip4real |
|||
| Travel activities marketplace |
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| <ref>{{cite news |url=https://techcrunch.com/2016/09/19/airbnb-acquires-travel-activities-marketplace-trip4real/ |title=Airbnb acquires travel activities marketplace, trip4real |first=Natasha |last=Lomas |work=[[TechCrunch]] |date=September 19, 2016 |archive-date=September 28, 2022 |archive-url=https://web.archive.org/web/20220928093210/https://techcrunch.com/2016/09/19/airbnb-acquires-travel-activities-marketplace-trip4real/ |url-status=live }}</ref> |
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|- |
|||
| 8 |
|||
| {{dts|2017|02}} |
|||
| Luxury Retreats International |
|||
| Canadian-based villa rental company; price was $300 million in cash and stock |
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| <ref>{{cite news | url=https://www.bloomberg.com/news/articles/2017-02-16/airbnb-buys-vacation-home-management-company-luxury-retreats | title=Airbnb Acquires Luxury Retreats, Beating Out Expedia, Accor | first1=Olivia | last1=Zaleski | first2=Gerrit | last2=De Vynck | publisher=[[Bloomberg News]] | date=February 16, 2017 | archive-date=March 31, 2017 | archive-url=https://web.archive.org/web/20170331073726/https://www.bloomberg.com/news/articles/2017-02-16/airbnb-buys-vacation-home-management-company-luxury-retreats | url-status=live }}</ref><ref>{{cite news | url=https://fortune.com/2017/02/17/airbnb-acquires-luxury-retreats/ | title=Soon You'll Be Able to Rent Richard Branson's Island on Airbnb | first=POLINA | last=MARINOVA | work=[[Fortune (magazine)|Fortune]] | date=February 17, 2017 | archive-date=April 14, 2021 | archive-url=https://web.archive.org/web/20210414120359/https://fortune.com/2017/02/17/airbnb-acquires-luxury-retreats/ | url-status=live }}</ref> |
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|- |
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| 9 |
|||
| {{dts|2017|02}} |
|||
| [[Tilt.com]] |
|||
| a social payment startup |
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| <ref name=acquired/> |
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|- |
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| 10 |
|||
| {{dts|2017|11}} |
|||
| [[Accomable]] |
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| Startup focused on travel [[accessibility]] |
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| <ref>{{cite news | url=https://www.theguardian.com/travel/2017/nov/27/airbnb-expands-into-stays-for-disabled-travellers-accomable-rental | title=Access all areas: Airbnb expands into stays for disabled travellers | work=[[The Guardian]] | first=Will | last=Coldwell | date=November 27, 2017 | archive-date=November 27, 2017 | archive-url=https://web.archive.org/web/20171127201216/https://www.theguardian.com/travel/2017/nov/27/airbnb-expands-into-stays-for-disabled-travellers-accomable-rental | url-status=live }}</ref><ref>{{cite news | url=https://www.reuters.com/article/us-airbnb-acquisition/airbnb-acquires-accomable-to-offer-home-rentals-for-disabled-travelers-idUSKBN1DG2H5 | title=Airbnb acquires Accomable to offer home rentals for disabled travelers | last=Somerville | first=Heather | publisher=[[Reuters]] | date=November 16, 2017 | archive-date=November 16, 2017 | archive-url=https://web.archive.org/web/20171116190416/http://www.reuters.com/article/us-airbnb-acquisition/airbnb-acquires-accomable-to-offer-home-rentals-for-disabled-travelers-idUSKBN1DG2H5 | url-status=live }}</ref> |
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|- |
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| 11 |
|||
| {{dts|2017|11}} |
|||
| AdBasis |
|||
| Advertising technology platform built for [[A/B testing]] and [[Multivariate testing in marketing|multivariate ad testing]] |
|||
| <ref>{{cite news |url=https://techcrunch.com/2017/11/16/airbnb-acquires-ad-tech-startup-adbasis/ |title=Airbnb acquires ad tech startup AdBasis |last=Lunden |first=Ingrid |work=[[TechCrunch]] |date=November 13, 2017 |archive-date=September 28, 2022 |archive-url=https://web.archive.org/web/20220928113932/https://techcrunch.com/2017/11/16/airbnb-acquires-ad-tech-startup-adbasis/ |url-status=live }}</ref> |
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|- |
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| 12 |
|||
| {{dts|2019|01}} |
|||
| Gaest |
|||
| Based in [[Aarhus]], [[Denmark]]; provides a platform for posting and booking venues for meetings and other events |
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| <ref>{{cite news | url=https://techcrunch.com/2019/01/25/airbnb-acquires-denmarks-gaest-to-expand-in-bookings-for-meetings-and-offsites/ | title=Airbnb acquires Denmark's Gaest to expand in bookings for meetings and offsites | last=Lunden | first=Ingrid | work=[[TechCrunch]] | date=January 25, 2019 | archive-date=September 24, 2022 | archive-url=https://web.archive.org/web/20220924200115/https://techcrunch.com/2019/01/25/airbnb-acquires-denmarks-gaest-to-expand-in-bookings-for-meetings-and-offsites/ | url-status=live }}</ref> |
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|- |
|||
| 13 |
|||
| {{dts|2019|03}} |
|||
| [[HotelTonight]] |
|||
| Website for booking last-minute hotel rooms; price was $400 million |
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| <ref>{{cite news | url=https://www.nytimes.com/2019/03/07/technology/airbnb-hotel-tonight.html | title=Airbnb Acquires HotelTonight to Expand Travel Portfolio | first=Erin | last=Griffith | work=[[The New York Times]] | date=March 7, 2019 | url-access=limited | archive-date=April 13, 2019 | archive-url=https://web.archive.org/web/20190413135507/https://www.nytimes.com/2019/03/07/technology/airbnb-hotel-tonight.html | url-status=live }}</ref><ref>{{cite news | url=https://www.reuters.com/article/us-airbnb-m-a-hoteltonight/airbnb-buys-hoteltonight-in-deeper-expansion-into-hotel-booking-business-idUSKCN1QO2B4 | title=Airbnb buys HotelTonight in deeper expansion into hotel-booking business | first=Heather | last=Somerville | publisher=[[Reuters]] | date=March 7, 2019 | archive-date=April 13, 2019 | archive-url=https://web.archive.org/web/20190413133100/https://www.reuters.com/article/us-airbnb-m-a-hoteltonight/airbnb-buys-hoteltonight-in-deeper-expansion-into-hotel-booking-business-idUSKCN1QO2B4 | url-status=live }}</ref> |
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|- |
|||
| 14 |
|||
| {{dts|2019|08}} |
|||
| Urbandoor |
|||
| Global online marketplace that offers extended stays to corporate clients |
|||
| <ref>{{Cite news | url=https://www.bizjournals.com/sanfrancisco/news/2019/08/05/airbnb-acquisition-urbandoor-corporate-business-sf.html | title=Airbnb acquisition opens door for growth in corporate relocation, business travel market | first=Katie | last=Burke | work=[[American City Business Journals]] | date=August 5, 2019 | url-access=subscription | archive-date=March 11, 2023 | archive-url=https://web.archive.org/web/20230311084540/https://www.bizjournals.com/sanfrancisco/news/2019/08/05/airbnb-acquisition-urbandoor-corporate-business-sf.html | url-status=live }}</ref><ref>{{Cite news | url=https://techcrunch.com/2019/08/05/doubling-down-on-business-travelers-airbnb-acquires-urbandoor/ | title=Doubling down on business travelers, Airbnb acquires Urbandoor | first=Jordan | last=Crook | work=[[TechCrunch]] | date=August 5, 2019 | archive-date=March 5, 2021 | archive-url=https://web.archive.org/web/20210305222637/https://techcrunch.com/2019/08/05/doubling-down-on-business-travelers-airbnb-acquires-urbandoor/ | url-status=live }}</ref><ref name=acquired/><ref>{{Cite web |last=Carter |first=John |date=25 August 2023 |title=Airbnb doubles down on business travellers with acquisition of Urbandoor |url=https://www.theavitas.com/blog/airbnb-doubles-down-on-business-travellers-with-acquisition-of-urbandoor |url-status=live |archive-url=https://web.archive.org/web/20230825114912/https://www.theavitas.com/blog/airbnb-doubles-down-on-business-travellers-with-acquisition-of-urbandoor |archive-date=25 August 2023 |publisher=Theavitas}}</ref> |
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|- |
|||
|15 |
|||
|November 2023 |
|||
|GamePlanner.AI |
|||
|AI startup |
|||
|<ref>{{Cite web |last= |first= |date=2023-11-14 |title=Airbnb acquires AI startup for just under $200 million |url=https://www.cnbc.com/2023/11/14/airbnb-acquires-ai-startup-for-just-under-200-million.html |access-date=2023-11-14 |website=CNBC |language=en}}</ref> |
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|} |
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===Corporate office history=== |
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In October 2011, Airbnb established an office in [[London]], its first international office.<ref>{{cite news | title=Airbnb set to expand with London office | url=https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8801030/Airbnb-set-to-expand-with-London-office.html | archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8801030/Airbnb-set-to-expand-with-London-office.html | archive-date=January 11, 2022 | url-access=subscription | last=Quinn | first=James | work=[[The Daily Telegraph]] | date=October 2, 2011 | url-status=live}}{{cbignore}}</ref> |
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In early 2012, Airbnb opened offices in [[Paris]], [[Milan]], [[Barcelona]], [[Copenhagen]], [[Moscow]], and [[São Paulo]].<ref>{{cite news | url=https://techcrunch.com/2012/01/26/airbnb-5-million-nights-booked-opening-6-new-international-offices-in-q1-2012/ | title=Airbnb: 5 Million Nights Booked, Opening 6 New International Offices In Q1 2012 | last=Wauters | first=Robin | work=[[TechCrunch]] | date=January 26, 2012 | archive-date=September 20, 2015 | archive-url=https://web.archive.org/web/20150920003433/http://techcrunch.com/2012/01/26/airbnb-5-million-nights-booked-opening-6-new-international-offices-in-q1-2012/ | url-status=live }}</ref> These openings were in addition to existing offices in San Francisco, London, [[Hamburg]], and [[Berlin]].<ref>{{cite news | title=Airbnb Checks In With Springstar For International Expansion | url=https://techcrunch.com/2011/10/17/airbnb-checks-in-with-springstar-for-international-expansion/ | last=Wauters | first=Robin | work=[[TechCrunch]] | date=October 17, 2011 | archive-date=July 4, 2017 | archive-url=https://web.archive.org/web/20170704193233/https://techcrunch.com/2011/10/17/airbnb-checks-in-with-springstar-for-international-expansion/ | url-status=live }}</ref> In September 2013, the company announced that it would establish its European headquarters in [[Dublin]].<ref>{{cite news | url=https://www.thejournal.ie/airbnb-dublin-hq-1081453-Sep2013/ | title=Airbnb to open European HQ in Dublin | first=Aoife | last=Barry | work=[[TheJournal.ie]] | date=September 13, 2013 | archive-date=July 25, 2020 | archive-url=https://web.archive.org/web/20200725004925/https://www.thejournal.ie/airbnb-dublin-hq-1081453-Sep2013/ | url-status=live }}</ref><ref>{{cite news | url=https://www.irishtimes.com/business/technology/airbnb-to-open-european-hq-in-dublin-1.1526454 | title=Airbnb to open European HQ in Dublin | newspaper=[[The Irish Times]] | date=September 13, 2013 | archive-date=February 5, 2018 | archive-url=https://web.archive.org/web/20180205190036/https://www.irishtimes.com/business/technology/airbnb-to-open-european-hq-in-dublin-1.1526454 | url-status=live }}</ref> |
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In November 2012, Airbnb opened an office in [[Sydney]], its 11th office location, and announced plans to launch the service in [[Thailand]] and [[Indonesia]].<ref>{{cite news | title=Airbnb launches in Australia with new office in Sydney, coming soon to Thailand and Indonesia | url=https://thenextweb.com/asia/2012/11/02/airbnb-launches-in-australia-coming-soon-to-thailand-and-indonesia/ | first=Josh | last=Ong | work=[[The Next Web]] | date=November 2, 2012 | archive-date=June 12, 2018 | archive-url=https://web.archive.org/web/20180612162224/https://thenextweb.com/asia/2012/11/02/airbnb-launches-in-australia-coming-soon-to-thailand-and-indonesia/ | url-status=live }}</ref> |
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In December 2012, Airbnb opened an office in [[Singapore]].<ref>{{cite news | title=Airbnb targets 2 million properties in Asia as it begins introducing local customer support | url=https://thenextweb.com/asia/2012/11/21/airbnb-targets-2-million-properties-in-asia-as-it-begins-introducing-local-customer-support/ | work=[[The Next Web]] | last=Russell | first=Jon | date=November 12, 2012 | archive-date=June 12, 2018 | archive-url=https://web.archive.org/web/20180612163148/https://thenextweb.com/asia/2012/11/21/airbnb-targets-2-million-properties-in-asia-as-it-begins-introducing-local-customer-support/ | url-status=live }}</ref> |
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In April 2022, Airbnb instituted a policy of unlimited [[remote work]]ing for almost all its employees.<ref>{{cite news |first=Andrea |last=Hsu |url=https://www.npr.org/2023/04/28/1172213330/airbnb-hybrid-remote-work-from-home-office-digital-nomad/ |title=Airbnb let its workers live and work anywhere. Spoiler: They're loving it |work=[[All Things Considered]] |via=[[NPR]] |date=April 28, 2023 |archive-date=April 30, 2023 |archive-url=https://web.archive.org/web/20230430204337/https://www.npr.org/2023/04/28/1172213330/airbnb-hybrid-remote-work-from-home-office-digital-nomad/ |url-status=live }}</ref> |
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===Share sales, corporate borrowing and valuation history=== |
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In April 2009, the company received $600,000 in [[seed money]] from [[Sequoia Capital]], with Youniversity Ventures partners [[Jawed Karim]], [[Keith Rabois]], and [[Kevin Hartz]] participating.<ref>{{cite book | first=Leigh | last=Gallagher | title=The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions . . . and Created Plenty of Controversy | url=https://books.google.com/books?id=4iGtDQAAQBAJ&q=youniversity%20ventures | date=February 14, 2017 | publisher=[[Houghton Mifflin Harcourt]] | isbn=978-0-544-95387-1 | page=31 | chapter=The Hustle}}</ref> In November 2010, [[Greylock Partners]] and Sequoia Capital invested $7.2 million in a [[Series A round]]. |
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In July 2011, [[Andreessen Horowitz]], [[DST Global|Digital Sky Technologies]], [[General Catalyst]], and A Grade Investments partners [[Ashton Kutcher]] and [[Guy Oseary]] invested $112 million in the company.<ref>{{cite news | title=AirBnB gets $112M in new investment | url=https://om.co/gigaom/airbnb-gets-112-million-in-new-investment/ | work=[[GigaOm]] | last=Malik | first=Om | author-link=Om Malik | date=July 24, 2011 | archive-date=March 18, 2022 | archive-url=https://web.archive.org/web/20220318125252/https://gigaom.com/2011/07/24/airbnb-gets-112-million-in-new-investment/ | url-status=live}}</ref><ref name=112million/> |
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In April 2014, [[TPG Capital]] invested $450 million in the company at a valuation of $10 billion.<ref>{{cite news | url=https://www.wsj.com/articles/tpg-led-group-closes-450-million-investment-in-airbnb-1397845128 | title=TPG-Led Group Closes $450 Million Investment in Airbnb | work=[[The Wall Street Journal]] | date=April 23, 2014 | url-access=subscription | archive-date=September 12, 2017 | archive-url=https://web.archive.org/web/20170912160440/https://www.wsj.com/articles/tpg-led-group-closes-450-million-investment-in-airbnb-1397845128 | url-status=live }}</ref> Additional funding was provided by [[Andreessen Horowitz]], [[Sequoia Capital]], [[Dragoneer Investment Group]], [[T. Rowe Price]], and [[Sherpa Capital]].<ref>{{Cite news | url=https://fortune.com/2014/08/01/airbnb-closes-475-million-funding-round/ | title=Airbnb closes $475 million funding round | website=[[Fortune (magazine)|Fortune]] | date=August 1, 2014 | archive-date=May 14, 2021 | archive-url=https://web.archive.org/web/20210514130201/https://fortune.com/2014/08/01/airbnb-closes-475-million-funding-round/ | url-status=live }}</ref> |
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In June 2015, [[General Atlantic]], [[Hillhouse Capital Group]], [[Tiger Management]], [[Kleiner Perkins Caufield & Byers]], [[GGV Capital]], China Broadband Capital, and Horizons Ventures invested $1.5 billion in the company.<ref>{{cite news | last=Nusca | first=Andrew | title=Airbnb raises $1.5 billion, valuing it at an eye-popping $25.5 billion | url=https://fortune.com/2015/06/27/airbnb-raises-1-5-billion/ | work=[[Fortune (magazine)|Fortune]] | date=June 27, 2015 | archive-date=February 27, 2021 | archive-url=https://web.archive.org/web/20210227195613/https://fortune.com/2015/06/27/airbnb-raises-1-5-billion/ | url-status=live }}</ref><ref>{{cite magazine | last=Alba | first=Davey | author-link=Davey Alba | title=Airbnb Confirms $1.5 Billion Funding Round, Now Valued at $25.5 Billion | url=https://www.wired.com/2015/12/airbnb-confirms-1-5-billion-funding-round-now-valued-at-25-5-billion/ | magazine=[[Wired (magazine)|Wired]] | date=December 7, 2015 | access-date=February 4, 2018 | archive-date=January 19, 2018 | archive-url=https://web.archive.org/web/20180119170601/https://www.wired.com/2015/12/airbnb-confirms-1-5-billion-funding-round-now-valued-at-25-5-billion/ | url-status=live }}</ref> |
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In September 2016, [[Google Capital]] and [[Technology Crossover Ventures]] invested $555.5 million in the company at a valuation of $30 billion.<ref>{{cite news | url=https://www.wsj.com/articles/airbnb-raises-850-million-at-30-billion-valuation-1474569670 | title=Airbnb's Funding Round Led by Google Capital | last1=Farrell | first1=Maureen | last2=Bensinger | first2=Greg | work=[[The Wall Street Journal]] | issn=0099-9660 | date=September 22, 2016 | url-access=subscription | archive-date=February 21, 2017 | archive-url=https://web.archive.org/web/20170221010200/https://www.wsj.com/articles/airbnb-raises-850-million-at-30-billion-valuation-1474569670 | url-status=live }}</ref> |
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In March 2017, Airbnb raised $1 billion in funding, bringing total funding raised to more than $3 billion and valuing the company at $31 billion.<ref>{{cite news | url=https://www.cnbc.com/2017/03/09/airbnb-closes-1-billion-round-31-billion-valuation-profitable.html | title=Airbnb just closed a $1 billion round and became profitable in 2016 | last=Thomas | first=Lauren | work=[[CNBC]] | date=March 9, 2017 | archive-date=November 13, 2017 | archive-url=https://web.archive.org/web/20171113064106/https://www.cnbc.com/2017/03/09/airbnb-closes-1-billion-round-31-billion-valuation-profitable.html | url-status=live }}</ref> |
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In April 2020, [[Silver Lake (investment firm)|Silver Lake]] and [[Sixth Street Partners]] acquired $1 billion in shares in the company at an $18 billion valuation<ref>{{Cite news | last2=Batchelor | first1=Deirdre | last1=Bosa | first2=Laura | title=Airbnb is raising $1 billion amid fallout from coronanvirus | url=https://www.cnbc.com/2020/04/06/airbnb-raising-1-billion-amid-fallout-from-coronanvirus.html | work=[[CNBC]] | date=April 6, 2020 | archive-date=May 14, 2021 | archive-url=https://web.archive.org/web/20210514131653/https://www.cnbc.com/2020/04/06/airbnb-raising-1-billion-amid-fallout-from-coronanvirus.html | url-status=live }}</ref> and $1 billion in debt at interest rates of 9%–11.5%.<ref>{{Cite news | url=https://www.cnbc.com/2020/04/14/airbnb-raises-another-1-billion-in-debt.html | title=Airbnb raising another $1 billion in debt as coronavirus ravages tourism business | first=Deirdre | last=Bosa | work=[[CNBC]] | date=April 14, 2020 | access-date=July 17, 2021 | archive-date=July 17, 2021 | archive-url=https://web.archive.org/web/20210717060544/https://www.cnbc.com/2020/04/14/airbnb-raises-another-1-billion-in-debt.html | url-status=live }}</ref> |
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== Corporate affairs == |
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The key trends for Airbnb are (as at the financial year ending December 31):<ref>{{citation |title=Airbnb Revenue and Usage Statistics |url=https://www.businessofapps.com/data/airbnb-statistics/ |website=Business of Apps}}</ref> |
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{| class="wikitable left" style="text-align: center;" |
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!Year!!Revenue<br>(US$ bn)!!Net income<br>(US$ m) |
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!Total assets<br>(US$ bn)<ref>{{Cite web |title=Airbnb total assets worldwide 2022 |url=https://www.statista.com/statistics/1193540/airbnb-total-assets-worldwide/ |access-date=2023-12-03 |website=Statista |language=en}}</ref> |
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!Employees<ref>{{Cite web |title=Airbnb: Number of Employees |url=https://www.macrotrends.net/stocks/charts/ABNB/airbnb/number-of-employees |website=macrotrends.net}}</ref> |
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!Sources |
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|- |
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|2014||0.4|| |
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| |
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| |
|||
|- |
|||
|2015||0.9|| |
|||
| |
|||
| |
|||
| |
|||
|- |
|||
|2016||1.7|| |
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| |
|||
| |
|||
|<ref>{{cite news |last=Kerr |first=Dara |date=January 26, 2017 |title=Airbnb makes it rain, turning a profit for the first time |publisher=[[CNET]] |url=https://www.cnet.com/tech/tech-industry/airbnb-first-profit-home-rental-travel-startups/ |url-status=live |archive-url=https://web.archive.org/web/20170225134139/https://www.cnet.com/news/airbnb-first-profit-home-rental-travel-startups/ |archive-date=February 25, 2017}}</ref><ref>{{cite news |last1=Stone |first1=Brad |last2=Zaleski |first2=Olivia |date=January 26, 2017 |title=Airbnb Enters the Land of Profitability |publisher=[[Bloomberg News]] |url=https://www.bloomberg.com/news/articles/2017-01-26/airbnb-enters-the-land-of-profitability |url-status=live |archive-url=https://web.archive.org/web/20180313000529/https://www.bloomberg.com/news/articles/2017-01-26/airbnb-enters-the-land-of-profitability |archive-date=March 13, 2018}}</ref> |
|||
|- |
|||
|2017||2.6||<span style="color:red;">−70.5</span> |
|||
|6.0 |
|||
| |
|||
| |
|||
|- |
|||
|2018||3.6||<span style="color:red;">−16.8</span> |
|||
|6.6 |
|||
| |
|||
| |
|||
|- |
|||
|2019||4.8||<span style="color:red;">−674</span> |
|||
|8.3 |
|||
|5,465 |
|||
|<ref>{{cite news |last=Molla |first=Rani |date=February 12, 2020 |title=Why Airbnb is suddenly struggling to make money |work=[[Vox Media]] |url=https://www.vox.com/2020/2/12/21134477/airbnb-loss-profit-ipo-safety-tech-marketing |url-status=live |archive-url=https://web.archive.org/web/20200213030851/https://www.vox.com/2020/2/12/21134477/airbnb-loss-profit-ipo-safety-tech-marketing |archive-date=February 13, 2020}}</ref> |
|||
|- |
|||
|2020||3.3||<span style="color:red;">−4,584</span> |
|||
|10.4 |
|||
|5,597 |
|||
| |
|||
|- |
|||
|2021||5.9||<span style="color:red;">−352</span> |
|||
|13.7 |
|||
|6,132 |
|||
| |
|||
|- |
|||
|2022||8.3||1,893 |
|||
|16.0 |
|||
|6,811 |
|||
|<ref>{{Cite web |date=February 15, 2023 |title=Airbnb Q4 2022 and full-year financial results |url=https://news.airbnb.com/en-uk/airbnb-q4-2022-and-full-year-financial-results/ |url-status=live |archive-url=https://web.archive.org/web/20230423142041/https://news.airbnb.com/en-uk/airbnb-q4-2022-and-full-year-financial-results/ |archive-date=April 23, 2023}}</ref><ref>{{cite news |last=Bursztynsky |first=Jessica |date=February 14, 2023 |title=Airbnb just reported its first profitable year as consumers keep booking trips |work=[[Fast Company]] |url=https://www.fastcompany.com/90847881/airbnb-just-reported-its-first-profitable-year-as-consumers-keep-booking-trips |url-status=live |archive-url=https://web.archive.org/web/20230426143500/https://www.fastcompany.com/90847881/airbnb-just-reported-its-first-profitable-year-as-consumers-keep-booking-trips |archive-date=April 26, 2023}}</ref><ref>{{Cite web |last=Capoot |first=Ashley |date=February 14, 2023 |title=Airbnb beats on profit and revenue, stock is up |url=https://www.cnbc.com/2023/02/14/airbnb-abnb-earnings-q4-2022-.html |url-status=live |archive-url=https://web.archive.org/web/20230426143457/https://www.cnbc.com/2023/02/14/airbnb-abnb-earnings-q4-2022-.html |archive-date=April 26, 2023 |work=[[CNBC]]}}</ref> |
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|- |
|||
|2023||9.9||4,800 |
|||
|20.6 |
|||
|6,907 |
|||
|<ref>{{cite web |url=https://airbnb2020ipo.q4web.com/files/doc_financials/2023/q4/Airbnb_Q4-2023-Shareholder-Letter_Final.pdf |title=Q4 2023 Shareholder Letter |year=2024 |website=Airbnb |access-date=March 2, 2024}}</ref><ref>{{cite web |url=https://stockanalysis.com/stocks/abnb/employees/ |title=Airbnb Number of Employees 2020–2023 |website=Stock Analysis |access-date=March 2, 2024}}</ref> |
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|} |
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==Regulations by jurisdiction== |
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{{#section-h::Lodging|Regulations by jurisdiction}} |
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==Criticism and controversies== |
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The company has been criticized for possibly enabling increases in home rents,<ref>{{cite news |last1=Barron |first1=Kyle |last2=Kung |first2=Edward |last3=Proserpio |first3=Davide |date=April 17, 2019 |title=Research: When Airbnb Listings in a City Increase, So Do Rent Prices |work=[[Harvard Business Review]] |url=https://hbr.org/2019/04/research-when-airbnb-listings-in-a-city-increase-so-do-rent-prices |access-date=December 5, 2020 |archive-date=December 10, 2020 |archive-url=https://web.archive.org/web/20201210140814/https://hbr.org/2019/04/research-when-airbnb-listings-in-a-city-increase-so-do-rent-prices |url-status=live }}</ref> refusing to provide sensitive customer data to governments, and allowing listings in [[West Bank settlement]]s. Airbnb has been criticized by the [[hotel industry]] for not being subject to fair regulations.<ref>{{cite news |last=Ferré-Sadurní |first=Luis |date=October 30, 2019 |title=Where a $5 Million War Rages Between Airbnb and the Hotel Industry |work=[[The New York Times]] |url=https://www.nytimes.com/2019/10/30/nyregion/jersey-city-airbnb-vote.html |url-access=limited |access-date=December 5, 2020 |archive-date=December 11, 2020 |archive-url=https://web.archive.org/web/20201211165835/https://www.nytimes.com/2019/10/30/nyregion/jersey-city-airbnb-vote.html |url-status=live }}</ref> Critics have also noted how Airbnb resists sharing its listing data with regulators, often citing privacy protections as its reason for not cooperating.<ref>{{cite journal |last1=Monahan |first1=Torin |title=Recoding the City: Cultural Mediation of Short-term Rental Platforms in the US |journal=Cultural Studies |date=2021 |volume=35 |issue=4–5 |pages=946–967 |doi=10.1080/09502386.2021.1895258|s2cid=233835477 }}</ref> |
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===Effects on housing affordability=== |
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Several studies have found that long-term rental prices in many areas have increased because landlords have kept properties off the longer-term rental market to instead get higher rental rates for short-term housing via Airbnb.<ref>{{Cite news | url=https://hbr.org/2021/11/research-restricting-airbnb-rentals-reduces-development | title=Research: Restricting Airbnb Rentals Reduces Development}}</ref><ref>{{Cite news | url=https://www.forbes.com/sites/garybarker/2020/02/21/the-airbnb-effect-on-housing-and-rent/ | title=The Airbnb Effect On Housing And Rent | first=Gary | last=Barker | work=[[Forbes]] | date=February 21, 2020 | url-access=limited}}</ref><ref>{{Cite news | last1=Barron | first1=Kyle | last2=Kung | first2=Edward | last3=Proserpio | first3=Davide | title=The Sharing Economy and Housing Affordability: Evidence from Airbnb | date=October 5, 2017 | ssrn=3006832}}</ref><ref>{{cite web | url=https://marketing.wharton.upenn.edu/wp-content/uploads/2019/08/09.05.2019-Proserpio-Davide-Paper.pdf | title=The Effect of Home-Sharing on House Prices and Rents: Evidence from Airbnb | first1=Kyle |last1=Barron | first2=Edward |last2=Kung | first3=Davide | last3=Proserpio | work=[[University of Pennsylvania]] | date=August 2019}}</ref><ref>{{cite news | last=Thompson | first=Derek | title=Airbnb and the Unintended Consequences of 'Disruption' | url=https://www.theatlantic.com/business/archive/2018/02/airbnb-hotels-disruption/553556/ | work=[[The Atlantic]] | date=February 17, 2018 | access-date=February 18, 2018 | archive-date=February 18, 2018 | archive-url=https://web.archive.org/web/20180218145339/https://www.theatlantic.com/business/archive/2018/02/airbnb-hotels-disruption/553556/ | url-status=live }}</ref><ref name=ODD23 /><ref>{{cite news | url=https://www.bbc.com/news/business-45083954 | title=What Airbnb really does to a neighbourhood | first=Daniel | last=Guttentag | work=[[BBC News]] | date=August 30, 2018 | archive-date=April 28, 2019 | archive-url=https://web.archive.org/web/20190428222528/https://www.bbc.com/news/business-45083954 | url-status=live }}</ref><ref>{{cite news | first=SARAH | last=HOLDER | url=https://www.bloomberg.com/news/articles/2019-02-01/airbnb-increases-home-prices-yet-escapes-regulation | title=The Airbnb Effect: It's Not Just Rising Home Prices | work=[[Bloomberg News]] | date=February 1, 2019| archive-date=March 18, 2022 | archive-url=https://web.archive.org/web/20220318090536/https://www.bloomberg.com/news/articles/2019-02-01/airbnb-increases-home-prices-yet-escapes-regulation | url-status=live }}</ref> [[Inside Airbnb]], a [[watchdog journalism]] website, has accused the company of manipulating its data to portray a different result.<ref>{{cite magazine | url=https://www.wired.com/2017/02/a-lone-data-whiz-is-fighting-airbnb-and-winning/ | title=A Lone Data Whiz Is Fighting Airbnb — and Winning | first=Miranda | last=Katz | magazine=[[Wired (magazine)|Wired]] | date=February 10, 2017 | url-access=limited | access-date=September 20, 2018 | archive-date=September 21, 2018 | archive-url=https://web.archive.org/web/20180921000131/https://www.wired.com/2017/02/a-lone-data-whiz-is-fighting-airbnb-and-winning/ | url-status=live }}</ref> Landlords have also been accused of illegally [[evict]]ing tenants to convert properties into higher-rent Airbnb listings.<ref>{{cite news | url=https://prospect.org/article/evictions-and-conversions-dark-side-airbnb | title=The Unsavory Side of Airbnb | first=Steven | last=Hill | work=[[The American Prospect]] | date=October 19, 2015 | archive-date=April 10, 2019 | archive-url=https://web.archive.org/web/20190410171641/https://prospect.org/article/evictions-and-conversions-dark-side-airbnb | url-status=live }}</ref> |
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Concerns on the effect of Airbnb on housing affordability has resulted in increased [[Lodging#Regulation of commercial lodging|lodging regulations]] and restrictions, which have generally been opposed by Airbnb via [[lobbying]] efforts.<ref>{{Cite news | url=https://www.thetimes.co.uk/article/airbnb-lobby-msps-every-month-bs8scg2r5 | title=Airbnb lobby MSPs every month | first=Emma | last=Yeomans | work=[[The Times]] | date=August 7, 2019 | url-access=limited | access-date=October 14, 2019 | archive-date=October 14, 2019 | archive-url=https://web.archive.org/web/20191014111009/https://www.thetimes.co.uk/article/airbnb-lobby-msps-every-month-bs8scg2r5 | url-status=live }}</ref> |
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===Inclusion of listings in Israeli settlements=== |
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{{See also|List of companies operating in West Bank settlements}} |
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In November 2018, Airbnb announced that it would remove the approximately 200 "listings in [[Israeli settlements]] in the occupied [[West Bank]] that are at the core of the dispute between Israelis and Palestinians". However, after affected property owners filed lawsuits against Airbnb in both Israel and the United States alleging discrimination based on place of residence, in April 2019, the company reversed its plans to remove listings in the West Bank and instead promised to donate any profits from these listings to non-profit organizations dedicated to [[humanitarian aid]].<ref>{{Cite news | url=https://www.nytimes.com/2019/04/09/world/middleeast/airbnb-israel-west-bank.html | title=Airbnb Reverses Policy Banning Listings in Israeli Settlements in West Bank | first=Julia | last=Jacobs | work=[[The New York Times]] | date=April 9, 2019 | url-access=limited | access-date=September 23, 2022 | archive-date=September 23, 2022 | archive-url=https://web.archive.org/web/20220923033358/https://www.nytimes.com/2019/04/09/world/middleeast/airbnb-israel-west-bank.html | url-status=live }}</ref><ref>{{Cite news | url=https://globalnews.ca/news/5148940/airbnb-west-bank-settlements/ | title=Airbnb reverses ban on West Bank rentals, pledges to send proceeds to aid organizations | first1=Dan | last1=Williams | first2=Brendan | last2=Pierson | agency=[[Reuters]] | publisher=[[Global News]] | date=April 9, 2019 | access-date=June 26, 2019 | archive-date=June 26, 2019 | archive-url=https://web.archive.org/web/20190626190143/https://globalnews.ca/news/5148940/airbnb-west-bank-settlements/ | url-status=live }}</ref><ref>{{Cite news | url=https://www.ynetnews.com/articles/0,7340,L-5492235,00.html | title=Airbnb reverses on delisting Israeli settlements, won't profit off West Bank | agency=[[Reuters]] | publisher=[[Ynet]] | date=October 4, 2019 | access-date=June 26, 2019 | archive-date=June 26, 2019 | archive-url=https://web.archive.org/web/20190626190143/https://www.ynetnews.com/articles/0,7340,L-5492235,00.html | url-status=live }}</ref> |
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According to 2020 and 2023 reports by the United Nations, the company continues to violate International Human Rights, profiting from illegal Israeli settlements in [[Occupied Palestinian Territories]].<ref>{{Cite web |date=2023 |title=Database Pursuant to Human Rights Council Resolution 31/36 |url=https://www.ohchr.org/en/hr-bodies/hrc/regular-sessions/session31/database-hrc3136}}</ref><ref>{{Cite web |title=UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory |url=https://www.ohchr.org/en/press-releases/2020/02/un-rights-office-issues-report-business-activities-related-settlements}}</ref> On February 12, 2020, Airbnb was included on a [[list of companies operating in West Bank settlements]] involved in activities that "raised particular human rights concerns" published by the [[United Nations Human Rights Council]]. The company was categorized under "the provision of services and utilities supporting the maintenance and existence of settlements".<ref>{{cite news |date=February 12, 2020 |title=UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory |publisher=[[Office of the United Nations High Commissioner for Human Rights]] |url=https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25542 |url-status=live |access-date=July 5, 2021 |archive-url=https://web.archive.org/web/20210709093910/https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25542 |archive-date=July 9, 2021}}</ref><ref>{{cite news |date=February 14, 2020 |title=Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71) |publisher=[[ReliefWeb]] |url=https://reliefweb.int/report/occupied-palestinian-territory/database-all-business-enterprises-involved-certain-activities |url-status=live |access-date=July 5, 2021 |archive-url=https://web.archive.org/web/20210709183439/https://reliefweb.int/report/occupied-palestinian-territory/database-all-business-enterprises-involved-certain-activities |archive-date=July 9, 2021}}</ref> |
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===Criticism by the hotel industry=== |
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Airbnb has been criticized by the hotel industry due to its competitive effects and its different regulations. This has led to a decline in hotel revenue in some markets and an increase in lobbying by the hotel industry.<ref>{{Cite book |last=Chen |first=Yong |url=https://books.google.com/books?id=Nu0lEAAAQBAJ&dq=The+Impact+of+AirBnb+on+Hotels+and+Hospitality+Industry&pg=PA241 |title=Economics of Tourism and Hospitality: A Micro Approach |date=2021-05-13 |publisher=Routledge |isbn=978-1-000-37238-0 |access-date=January 29, 2023 |archive-date=February 10, 2023 |archive-url=https://web.archive.org/web/20230210012810/https://books.google.com/books?id=Nu0lEAAAQBAJ&dq=The+Impact+of+AirBnb+on+Hotels+and+Hospitality+Industry&pg=PA241 |url-status=live }}</ref><ref>{{Cite journal |last1=Oskam |first1=Jeroen |last2=Boswijk |first2=Albert |date=2016-01-01 |title=Airbnb: the future of networked hospitality businesses |journal=Journal of Tourism Futures |volume=2 |issue=1 |pages=22–42 |doi=10.1108/JTF-11-2015-0048 |issn=2055-5911|doi-access=free }}</ref><ref>{{Cite book |last1=Nuno |first1=Gustavo |url=https://books.google.com/books?id=5G9bEAAAQBAJ&dq=The+Impact+of+AirBnb+on+Hotels+and+Hospitality+Industry&pg=PA260 |title=Optimizing Digital Solutions for Hyper-Personalization in Tourism and Hospitality |last2=João |first2=Pronto |last3=Luísa |first3=Carvalho |last4=Miguel |first4=Belo |date=2022-02-19 |publisher=IGI Global |isbn=978-1-7998-8308-1 |language=en |access-date=January 29, 2023 |archive-date=February 10, 2023 |archive-url=https://web.archive.org/web/20230210020924/https://books.google.com/books?id=5G9bEAAAQBAJ&dq=The+Impact+of+AirBnb+on+Hotels+and+Hospitality+Industry&pg=PA260 |url-status=live }}</ref> |
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===Lack of loyalty program=== |
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Airbnb is one of the few major travel companies without a loyalty program, which has led to criticism by many customers. This is in part attributed to its lack of business customers, as reported by [[The Wall Street Journal]].<ref>{{cite web |url=https://www.wsj.com/articles/airbnb-vrbo-loyalty-program-c72306f |title=Why Doesn't Airbnb Have a Loyalty Program Like Everyone Else? | first=Allison |last=Pohle | date=July 19, 2023 | work=[[The Wall Street Journal]] | url-access=subscription}}</ref> |
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===Objectivity of guest reviews=== |
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Airbnb features a review system in which guests and hosts can rate and review each other after a stay. Hosts and guests are unable to see reviews until both have submitted a review or until the time period to review has closed, a system that aims to improve accuracy and objectivity by removing fears that users will receive a negative review in retaliation if they write one. However, the truthfulness and impartiality of reviews may be adversely affected by concerns of future stays because prospective hosts may refuse to host a user who generally leaves negative reviews. The company's policy requires users to forego anonymity, which may also detract from users' willingness to leave negative reviews. These factors may damage the objectivity of the review system.<ref>{{cite news | url=https://www.inc.com/sonya-mann/airbnb-nightmare-experiences.html | title=Why Airbnb Reviews Don't Tell the Whole Story | first=Sonya | last=Mann | work=Inc. | date=May 3, 2017 | access-date=March 3, 2018 | archive-date=October 16, 2020 | archive-url=https://web.archive.org/web/20201016033436/https://www.inc.com/sonya-mann/airbnb-nightmare-experiences.html | url-status=live }}</ref><ref>{{cite news | url=https://www.businessinsider.com/why-airbnb-reviews-are-a-problem-for-the-site-2015-6 | title=Why Airbnb reviews are a problem for the site | first=Molly | last=Mulshine | work=[[Business Insider]] | date=June 18, 2015 | access-date=April 20, 2019 | archive-date=June 5, 2019 | archive-url=https://web.archive.org/web/20190605181837/https://www.businessinsider.com/why-airbnb-reviews-are-a-problem-for-the-site-2015-6 | url-status=live }}</ref><ref>{{Cite news | url=https://mashable.com/2015/05/18/airbnb-reviews/ | title=Why you should think twice before trusting Airbnb reviews | first=Erica | last=Ho | work=[[Mashable]] | date=May 19, 2015 | access-date=March 3, 2018 | archive-date=March 4, 2018 | archive-url=https://web.archive.org/web/20180304172327/https://mashable.com/2015/05/18/airbnb-reviews/ | url-status=live }}</ref> |
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===Response to activities of far-right extremists=== |
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In August 2017, Airbnb cancelled numerous bookings and closed accounts belonging to attendees of the [[white supremacist]] [[Unite the Right rally]] in [[Charlottesville, Virginia]], citing its [[terms of service]] in which members must "accept people regardless of their race, [[religion]], national origin, [[Ethnic group|ethnicity]], [[disability]], sex, [[gender identity]], sexual orientation, or age."<ref>{{cite news | last=Bromwich | first=Jonah Engel | title=Airbnb Cancels Accounts Linked to White Nationalist Rally in Charlottesville | url=https://www.nytimes.com/2017/08/09/us/airbnb-white-nationalists-supremacists.html | work=[[The New York Times]] | date=August 9, 2017 | url-access=limited | access-date=September 20, 2018 | archive-date=August 10, 2017 | archive-url=https://web.archive.org/web/20170810212541/https://www.nytimes.com/2017/08/09/us/airbnb-white-nationalists-supremacists.html | url-status=live }}</ref> The move was criticized by [[Jason Kessler]], organizer of the rally.<ref>{{cite news | first1=Madison | last1=Park | first2=Chris | last2=Boyette | title=Airbnb removes users affiliated with white nationalists' rally | url=https://www.cnn.com/2017/08/09/us/airbnb-cancels-bookings-white-nationalists-rally/index.html | publisher=[[CNN]] | date=August 9, 2017 | access-date=March 24, 2019 | archive-date=March 24, 2019 | archive-url=https://web.archive.org/web/20190324031704/https://www.cnn.com/2017/08/09/us/airbnb-cancels-bookings-white-nationalists-rally/index.html | url-status=live }}</ref> |
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In January 2021, Airbnb was criticized for allowing participants in the [[January 6 United States Capitol attack|January 6 attack on the United States Capitol]] to book units on the platform in the [[Washington metropolitan area]], despite most hotels in the vicinity of [[Capitol Hill]] banning [[far-right extremist]]s.<ref>{{cite news | first=Ruth | last=Tam | title=Trump Insurrectionists Lodge At D.C. Airbnbs — Much To Washingtonians' Distress | url=https://www.npr.org/local/305/2021/01/08/954954032/trump-insurrectionists-lodge-at-d-c-airbnbs-much-to-washingtonians-distress | work=[[NPR]] | date=January 7, 2021 | archive-date=August 14, 2022 | archive-url=https://web.archive.org/web/20220814202406/https://dcist.com/story/21/01/07/trump-insurrectionists-stay-at-dc-airbnbs-worrying-washingtonians/ | url-status=live}}</ref> After the possibility of further violence during the [[Inauguration of Joe Biden]], Airbnb announced the day after the Capitol raid that it was banning all bookings in the region prior to the inauguration.<ref>{{cite news | first=Ashley | last=Fetters Malloy | title=Before Airbnb canceled inauguration reservations, hosts took matters into their own hands | url=https://www.washingtonpost.com/lifestyle/2021/01/12/airbnb-inauguration-dc-rental/ | newspaper=[[The Washington Post]] | date=January 13, 2021 | url-access=limited | access-date=August 14, 2022 | archive-date=January 19, 2023 | archive-url=https://web.archive.org/web/20230119143823/https://www.washingtonpost.com/lifestyle/2021/01/12/airbnb-inauguration-dc-rental/ | url-status=live }}</ref> |
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===Sponsorship of 2022 Winter Olympics=== |
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Airbnb was one of the 15 leading sponsors of the [[2022 Winter Olympics]], held in [[Beijing]], and was asked by human rights activists and groups to drop its sponsorship in March 2021 as part of diplomatic and activist [[boycott]]s over alleged [[human rights]] violations by the [[Chinese Communist Party]], in particular the [[persecution of Uyghurs in China]]. These requests were ignored by the company.<ref>{{Cite news | title=Airbnb asked to drop Olympic ties over China rights issues | url=https://apnews.com/article/winter-olympics-beijing-2020-tokyo-olympics-china-olympic-games-c94f6ff2289cf26b0c6395423dc74e33 | first=STEPHEN | last=WADE | publisher=[[Associated Press]] | date=March 23, 2021 | access-date=February 8, 2022 | archive-date=February 8, 2022 | archive-url=https://web.archive.org/web/20220208205914/https://apnews.com/article/winter-olympics-beijing-2020-tokyo-olympics-china-olympic-games-c94f6ff2289cf26b0c6395423dc74e33 | url-status=live }}</ref><ref>{{Cite web | title=The Olympic Partner Program | url=https://olympics.com/ioc/partners | publisher=Olympics.com | access-date=February 8, 2022 | archive-date=February 8, 2022 | archive-url=https://web.archive.org/web/20220208205906/https://olympics.com/ioc/partners | url-status=live }}</ref><ref>{{Cite news | url=https://www.motherjones.com/politics/2022/01/beijing-winter-olympics-ioc-china-sponsors-coke-airbnb-visa/ | title=Olympic Sponsors Have "Entirely Ghosted" Activists Ahead of the Beijing Games | first=Dan | last=Spinelli | work=[[Mother Jones (magazine)|Mother Jones]] | date=January 21, 2022 | access-date=September 23, 2022 | archive-date=September 23, 2022 | archive-url=https://web.archive.org/web/20220923051745/https://www.motherjones.com/politics/2022/01/beijing-winter-olympics-ioc-china-sponsors-coke-airbnb-visa/ | url-status=live }}</ref><ref>{{Cite news | url=https://www.washingtonpost.com/sports/olympics/2022/01/16/olympics-sponsors-china-human-rights/ | title=The U.S. government is boycotting the Beijing Olympics over human rights. Coke and Airbnb are still on board. | first=Jeanne | last=Whalen | newspaper=[[The Washington Post]] | date=January 16, 2022 | url-access=limited | issn=0190-8286 | access-date=February 8, 2022 | archive-date=February 21, 2022 | archive-url=https://web.archive.org/web/20220221084759/https://www.washingtonpost.com/sports/olympics/2022/01/16/olympics-sponsors-china-human-rights/ | url-status=live }}</ref> |
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===Length of terms of service agreements=== |
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In 2014, linguist [[Mark Liberman]] criticized the extreme length of the legal agreements that Airbnb members are required to accept, with the site's [[terms of service]], [[privacy policy]], and other policies amounting to "55081 words, or about the size of a short novel, though much less readable".<ref>{{cite news | last=Liberman | first=Mark | title=We're updating our novel-length Terms of Service? | url=https://languagelog.ldc.upenn.edu/nll/?p=11707 | publisher=[[Language Log]] | date=April 10, 2014 | access-date=September 23, 2022 | archive-date=September 23, 2022 | archive-url=https://web.archive.org/web/20220923033404/https://languagelog.ldc.upenn.edu/nll/?p=11707 | url-status=live }}</ref> |
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===Illegal behavior by hosts=== |
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Hosts have been accused of circumventing tax regulations,<ref>{{Cite news | url=https://creatoridifuturo.it/articoli-luca-poma/airbb-autenticita-lovemark/ | last=Poma | first=Luca | author-link=Luca Poma | title=AIRB&B: WHEN DISHONEST CONDUCT SULLIES A LOVEMARK | work=creatoridifuturo.it | date=October 22, 2020 | access-date=September 23, 2022 | archive-date=September 23, 2022 | archive-url=https://web.archive.org/web/20220923041746/https://creatoridifuturo.it/articoli-luca-poma/airbb-autenticita-lovemark/ | url-status=live }}</ref> circumventing Airbnb's background checks and subjecting guests to last-minute cancellations, moldy or rodent-infested lodging, theft, invasion of privacy, and even rape and murder,<ref>{{Cite news | url=https://www.independent.co.uk/news/uk/home-news/airbnb-dangerous-loopholes-corpse-garden-a8101371.html | archive-url=https://web.archive.org/web/20171210182845/http://www.independent.co.uk/news/uk/home-news/airbnb-dangerous-loopholes-corpse-garden-a8101371.html |archive-date=December 10, 2017 | url-access=limited | title=Airbnb guest finds corpse in garden | first=Harriet | last=Agerholm | work=[[The Independent]] | date=December 9, 2017 | url-status=live}}</ref><ref>{{cite news | url=https://www.thetimes.co.uk/article/the-rotting-corpse-and-other-airbnb-horror-stories-x0pgw6csx | title=The rotting corpse and other Airbnb horror stories | last=Ellson | first=Andrew | work=[[The Times]] | date=December 9, 2017 | issn=0140-0460 | access-date=May 23, 2018 | archive-date=May 24, 2018 | archive-url=https://web.archive.org/web/20180524004308/https://www.thetimes.co.uk/article/the-rotting-corpse-and-other-airbnb-horror-stories-x0pgw6csx | url-status=live }}</ref><ref>{{cite news | url=https://www.bloomberg.com/view/articles/2017-12-12/airbnb-like-uber-needs-to-grow-up | title=Airbnb, Like Uber, Needs to Grow Up | first=Leonid | last=Bershidsky | publisher=[[Bloomberg News]] | date=December 12, 2017 | url-access=subscription | access-date=May 23, 2018 | archive-date=December 14, 2017 | archive-url=https://web.archive.org/web/20171214110342/https://www.bloomberg.com/view/articles/2017-12-12/airbnb-like-uber-needs-to-grow-up | url-status=live }}</ref><ref>{{cite news | url=https://globalnews.ca/news/3953963/airbnb-scams/ | title=Review of Airbnb horror stories finds 'multiple dangerous loopholes and scams' | first=Erica | last=Alini |publisher=[[Global News]] | date=January 11, 2018 | access-date=May 23, 2018 | archive-date=May 24, 2018 | archive-url=https://web.archive.org/web/20180524010939/https://globalnews.ca/news/3953963/airbnb-scams/ | url-status=live }}</ref> as well as [[bait-and-switch]] scams in which the guest does not receive the promised accommodation.<ref>{{cite news | url=https://www.vice.com/amp/en_us/article/43k7z3/nationwide-fake-host-scam-on-airbnb | title=I Accidentally Uncovered a Nationwide Scam on Airbnb | last=Conti | first=Allie | work=[[Vice Media]] | date=October 31, 2019 | access-date=December 6, 2019 | archive-date=December 7, 2019 | archive-url=https://web.archive.org/web/20191207021654/https://www.vice.com/amp/en_us/article/43k7z3/nationwide-fake-host-scam-on-airbnb | url-status=live }}</ref><ref>{{cite magazine | url=https://www.wired.co.uk/article/airbnb-scam-london | title=I stumbled across a huge Airbnb scam that's taking over London | magazine=[[Wired (magazine)|Wired]] | last=Temperton | first=James | date=February 11, 2020 | access-date=March 17, 2020 | archive-date=March 17, 2020 | archive-url=https://web.archive.org/web/20200317213450/https://www.wired.co.uk/article/airbnb-scam-london | url-status=live }}</ref> Airbnb has noted that the number of these incidents is not statistically significant and has banned violators and associated accounts.<ref>{{cite web |url=https://www.vice.com/en/article/y3pajy/airbnb-is-banning-people-who-are-closely-associated-with-already-banned-users |title=Airbnb Is Banning People Who Are 'Closely Associated' With Already-Banned Users |last=Strachan |first=Maxwell |website=[[Vice (magazine)|Vice]]|date=March 2023 |publisher=VICE Media Group |access-date=March 1, 2023 |archive-date=March 1, 2023 |archive-url=https://web.archive.org/web/20230301145005/https://www.vice.com/en/article/y3pajy/airbnb-is-banning-people-who-are-closely-associated-with-already-banned-users |url-status=live }}</ref> |
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===Legal disputes=== |
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====Failure to provide required information to governments==== |
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Many governments have passed laws requiring that Airbnb provide guest information so that local regulations can be enforced and [[hotel tax]]es are collected. Airbnb contested one such law in New York.<ref>{{Cite news | url=https://www.nytimes.com/2018/07/18/nyregion/new-york-city-airbnb-crackdown.html | title=New York City Looks to Crack Down on Airbnb Amid Housing Crisis | first=Zoe | last=Greenberg | work=[[The New York Times]] | date=July 18, 2018 | url-access=limited | access-date=December 6, 2019 | archive-date=December 6, 2019 | archive-url=https://web.archive.org/web/20191206134016/https://www.nytimes.com/2018/07/18/nyregion/new-york-city-airbnb-crackdown.html | url-status=live }}</ref><ref>{{Cite news | url=https://www.nytimes.com/2019/01/03/nyregion/nyc-airbnb-rentals.html | title=Judge Blocks New York City Law Aimed at Curbing Airbnb Rentals | first1=Benjamin | last1=Weiser | first2=J. David | last2=Goodman | work=[[The New York Times]] | date=January 3, 2019 | url-access=limited | access-date=December 6, 2019 | archive-date=December 7, 2019 | archive-url=https://web.archive.org/web/20191207073348/https://www.nytimes.com/2019/01/03/nyregion/nyc-airbnb-rentals.html | url-status=live }}</ref> However, in May 2019, Airbnb agreed to turn over some anonymized information for approximately 17,000 listings so that the city could pursue illegal rentals.<ref>{{Cite news | url=https://www.wired.com/story/airbnb-new-york-city-reach-truce-on-home-sharing-data/ | title=Airbnb and New York City Reach a Truce on Home-Sharing Data | first=Paris | last=Martineau | magazine=[[Wired (magazine)|Wired]] | date=May 24, 2019 | access-date=December 6, 2019 | archive-date=November 10, 2019 | archive-url=https://web.archive.org/web/20191110122258/https://www.wired.com/story/airbnb-new-york-city-reach-truce-on-home-sharing-data/ | url-status=live }}</ref> Similar cases were settled in Boston and Miami.<ref>{{Cite magazine | url=https://www.wired.com/story/airbnb-starts-play-nice-cities/ | title=Airbnb Starts to Play Nice With Cities | first=Paris | last=Martineau | magazine=[[Wired (magazine)|Wired]] | date=August 31, 2019 | access-date=December 7, 2019 | archive-date=December 7, 2019 | archive-url=https://web.archive.org/web/20191207084225/https://www.wired.com/story/airbnb-starts-play-nice-cities/ | url-status=live }}</ref> |
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Airbnb refused to provide required information to the Belgian government, claiming the obligation to provide the information was not compatible with [[European Union]] law. The [[Constitutional Court (Belgium)|Belgian Constitutional Court]] referred the dispute to the [[European Court of Justice]], which in April 2022 ruled that the requirement to transmit to tax authorities certain particulars of tourist transactions was not contrary to European Union law and referred the case back to the Belgian Constitutional Court.<ref>{{Cite news | url=https://www.reuters.com/business/eu-court-rejects-airbnb-plea-information-tax-authorities-2022-04-27/ | title=EU court rejects Airbnb plea on Belgian information for tax authorities | first=John | last=Chalmers | publisher=[[Reuters]] | date=April 27, 2022 | access-date=September 23, 2022 | archive-date=September 23, 2022 | archive-url=https://web.archive.org/web/20220923033404/https://www.reuters.com/business/eu-court-rejects-airbnb-plea-information-tax-authorities-2022-04-27/ | url-status=live }}</ref> |
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====Legality of service fees in the Netherlands==== |
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In March 2020, a subdistrict court ruling in the Netherlands found that Airbnb charging service fees to both the host and the guest was illegal and that the 30,000 people who had rented as guests have a right for reimbursement if they file claims. Airbnb filed countersuits in an attempt to gain clarity on the ruling.<ref>{{Cite news | url=https://www.theguardian.com/travel/2020/sep/14/airbnb-appeals-to-dutch-high-court-retain-double-fees | title=Airbnb makes 'power play' in Dutch high court to retain right to 'double fees' | work=[[The Guardian]] | date=September 14, 2020 | access-date=April 4, 2021 | archive-date=April 1, 2021 | archive-url=https://web.archive.org/web/20210401031418/https://www.theguardian.com/travel/2020/sep/14/airbnb-appeals-to-dutch-high-court-retain-double-fees | url-status=live }}</ref> |
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== See also == |
== See also == |
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*[[Holiday cottage]] |
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* Airbnb |
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* |
*[[Vacation rental]] |
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* [[CouchSurfing]] |
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==References== |
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{{Reflist}} |
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== |
==Further reading== |
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* {{Cite book |last=Stone |first=Brad |authorlink=Brad Stone (journalist) |date=2017 |title=The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley Are Changing the World |edition=1st |location=New York |publisher=Little, Brown and Company |isbn=978-0-316-38839-9 |oclc=953598607}} |
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{{reflist}} |
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== |
==External links== |
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{{Commons category|Airbnb}} |
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* [http://www.airbnb.com/ airbnb.com] - official website |
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* {{Official website}} |
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{{Finance links |
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| name = Airbnb, Inc. |
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| symbol = ABNB |
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| reuters = ABNB.O |
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| bloomberg = ABNB:US |
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| sec_cik = 1559720 |
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| yahoo = ABNB |
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| google = ABNB:NASDAQ |
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}} |
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* {{OpenCorp|Airbnb}} |
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{{Sharing economy}} |
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{{Andreessen Horowitz}} |
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{{NASDAQ-100}} |
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{{Authority control}} |
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Revision as of 16:54, 1 June 2024
![]() | |
![]() Headquarters at 888 Brannan Street, in San Francisco, California | |
Company type | Public |
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| |
Industry | Lodging |
Founded | August 2008San Francisco, California, U.S. | in
Founders | |
Headquarters | San Francisco, California, U.S. |
Area served | Worldwide |
Key people | |
Services | |
Revenue | ![]() |
![]() | |
![]() | |
Total assets | ![]() |
Total equity | ![]() |
Owner |
|
Number of employees | 6,907 (2023) |
Subsidiaries |
|
Website | airbnb |
Footnotes / references [1][2][3][4] |
Part of a series on |
Homestays |
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Hospitality exchange services |
Hospitality for work |
Hospitality for money |
Home exchange and others |
![](https://upload.wikimedia.org/wikipedia/commons/thumb/9/94/AirbnbToronto5.jpg/220px-AirbnbToronto5.jpg)
Airbnb, Inc. (/ˌɛərˌbiːɛnˈbiː/ AIR-BEE-en-BEE) is an American company operating an online marketplace for short- and long-term homestays and experiences. The company acts as a broker and charges a commission from each booking. The company was founded in 2008 by Brian Chesky, Nathan Blecharczyk, and Joe Gebbia. Airbnb is a shortened version of its original name, AirBedandBreakfast.com. Airbnb is the most well-known company for short-term housing rentals.[5][6]
History
After moving to San Francisco in October 2007, roommates and former schoolmates Brian Chesky and Joe Gebbia came up with an idea of putting an air mattress in their living room and turning it into a bed and breakfast.[7] In February 2008, Nathan Blecharczyk, Chesky's former roommate, joined as the chief technology officer and the third co-founder of the new venture, which they named AirBed & Breakfast.[7][8] They put together a website that offered short-term living quarters and breakfast for those who were unable to book a hotel in the saturated market.[7] The site Airbedandbreakfast.com officially launched on August 11, 2008.[9][10] The founders had their first customers in the summer of 2008, during the Industrial Design Conference held by Industrial Designers Society of America, where travelers had a hard time finding lodging in the city.[11]
After the founders raised $30,000 by selling cereal named after the two candidates of the 2008 United States presidential election, Barack Obama and John McCain, mostly at the 2008 Democratic National Convention,[12][13][14][15] computer programmer Paul Graham invited the founders to the January 2009 winter training session of his startup incubator, Y Combinator, which provided them with training and $20,000 in funding in exchange for a 6% interest in the company.[7][15][16][17][18] With the website already built, they used the Y Combinator investment to fly to New York to meet users and promote the site.[14] They returned to San Francisco with a profitable business model to present to West Coast investors. By March 2009, the site had 10,000 users and 2,500 listings.[16]
In March 2009, the name of the company was shortened to Airbnb.com to eliminate confusion over air mattresses; by then listings included entire rooms and properties.[7]
By November 2010, out of 700,000 nights booked, 80% had occurred in the previous six months.[19]
At the March 2011 South by Southwest conference, Airbnb won the "app" award.[20]
In November 2012, Airbnb launched "Neighborhoods", a travel guide of 23 cities that helps travelers choose a neighborhood in which to stay based on certain criteria and personal preferences.[21]
By October 2013, Airbnb had served 9,000,000 guests since its founding in August 2008.[22] Nearly 250,000 listings were added in 2013.[23]
In July 2014, Airbnb revealed design revisions to the site and mobile app and introduced a new logo. The logo, called the Bélo, is intended to serve as a symbol of "belonging", and consists of four elements: a head which represents people, a location icon that represents place, a heart to symbolize love, and a letter "A" to stand for the company's name.[24][25] It also announced a partnership with Concur, an expense reporting service for businesses, to make it easier for business travelers to report Airbnb stays as business expenses.[26]
In April 2015, following the easing of restrictions on U.S. businesses to operate in Cuba, Airbnb expanded to Cuba, making it one of the first U.S. companies to do so.[27][28]
In July 2016, former Attorney General Eric Holder was hired to help craft an anti-discrimination policy for Airbnb after reports showed that hosts were refusing to accept lodging requests from guests whose names suggested that they were black.[29] As part of the reform, photos of prospective guests are hidden from hosts until requests for lodging are accepted.[30]
In November 2016, Airbnb launched "experiences", whereby users can use the platform to book activities.[31]
In January 2017, along with serial entrepreneurs Gary Vaynerchuk, Ben Leventhal and Mike Montero, Airbnb led a $13 million investment in Resy, a restaurant reservation-booking app.[32]
In May 2017, the company launched Airbnbmag, a magazine co-published with Hearst Communications.[33]
In February 2018, the company announced Airbnb Plus, a collection of homes that have been vetted for quality of services, comfort and design,[34] as well as Beyond by Airbnb, which offers luxury vacation rentals.[35] By October 2019, two million people were staying with Airbnb each night.[36]
In April 2019, Airbnb produced and financed Gay Chorus Deep South, a documentary launched by its Rausch Street Films division. The rights were sold to MTV, which aired the program on its network.[37][38][39]
On World Animal Day (October 4) in 2019, Airbnb launched a new standalone category of experiences focused on those involving animals, as well as an animal welfare policy created with and backed by World Animal Protection.[40]
During the COVID-19 pandemic, bookings dropped as much as 96% in some cities.[41] However, bookings rose in many rural areas.[42] The company pledged $250 million in payouts to hosts to compensate them for guest cancellations due to the pandemic.[43][44] The company also laid off approximately 1,900 employees, or about 25% of its workforce in the Americas, Europe, and Asia due to the pandemic.[45][46]
On December 10, 2020, the company became a public company via an initial public offering, raising $3.5 billion.[47] Shares valued at $238 million were offered to hosts on the platform at the price of $68 per share.[48]
In March 2022, Airbnb suspended business in Russia and Belarus due to the sanctions resulting from the Russian invasion of Ukraine.[49][50]
In May 2022, Airbnb ceased operations in China.[51] The decision was made primarily because of China's Zero-COVID policy, as well as complicated and expensive laws and regulations that required Airbnb to send detailed information on guests to the Government of China, which can be used to track people.[52][53][54] Airbnb was accused of being too willing to provide this information, which led to the resignation of an Airbnb executive, who was also a former deputy director of the Federal Bureau of Investigation, in 2019 after 6 months of working.[55][56] Airbnb had also been accused of allowing listings on land owned by the Xinjiang Production and Construction Corps, a Chinese state-owned paramilitary entity sanctioned under the Magnitsky Act for involvement in the persecution of Uyghurs in China.[57][58] In 2019, certain hosts in China were accused of discrimination by refusing to rent to Uyghurs.[59]
After temporarily banning parties in homes rented on the platform in August 2020 due to the COVID-19 pandemic,[60] in June 2022, Airbnb announced that it will permanently ban parties and events in homes on its platform, a position supported by hosts and their neighbors who complained of nuisances at Airbnb properties.[61] In August 2022, Airbnb rolled out technology to enforce this ban.[62]
In March 2024, Airbnb announced a ban on indoor cameras for properties listed on the site, scheduled to take effect on April 30. The changes also involve a requirement for hosts to disclose the use of noise-decibel monitoring equipment.[63]
Acquisitions
# | Date | Company | Notes | Ref(s). |
---|---|---|---|---|
1 | May 2011 | Accoleo | German competitor; launched the first international Airbnb office, in Hamburg | |
2 | March 2012 | CrashPadder | Added 6,000 international listings to its existing inventory; made Airbnb the largest lodging website in the United Kingdom. | [67][68][69] |
3 | November 2012 | NabeWise | Online city guide that aggregates curated information for specified locations; shifted the company's focus toward offering hyperlocal recommendations to travelers | [70][71] |
4 | December 2012 | Localmind | a location-based question and answer platform | [72] |
5 | September 2015 | Vamo | Immediately shut down the company, acquiring its employees | [73][74] |
6 | September 2015 | Lapka | Sensor startup | [75] |
7 | September 2016 | Trip4real | Travel activities marketplace | [76] |
8 | February 2017 | Luxury Retreats International | Canadian-based villa rental company; price was $300 million in cash and stock | [77][78] |
9 | February 2017 | Tilt.com | a social payment startup | [64] |
10 | November 2017 | Accomable | Startup focused on travel accessibility | [79][80] |
11 | November 2017 | AdBasis | Advertising technology platform built for A/B testing and multivariate ad testing | [81] |
12 | January 2019 | Gaest | Based in Aarhus, Denmark; provides a platform for posting and booking venues for meetings and other events | [82] |
13 | March 2019 | HotelTonight | Website for booking last-minute hotel rooms; price was $400 million | [83][84] |
14 | August 2019 | Urbandoor | Global online marketplace that offers extended stays to corporate clients | [85][86][64][87] |
15 | November 2023 | GamePlanner.AI | AI startup | [88] |
Corporate office history
In October 2011, Airbnb established an office in London, its first international office.[89]
In early 2012, Airbnb opened offices in Paris, Milan, Barcelona, Copenhagen, Moscow, and São Paulo.[90] These openings were in addition to existing offices in San Francisco, London, Hamburg, and Berlin.[91] In September 2013, the company announced that it would establish its European headquarters in Dublin.[92][93]
In November 2012, Airbnb opened an office in Sydney, its 11th office location, and announced plans to launch the service in Thailand and Indonesia.[94]
In December 2012, Airbnb opened an office in Singapore.[95]
In April 2022, Airbnb instituted a policy of unlimited remote working for almost all its employees.[96]
Share sales, corporate borrowing and valuation history
In April 2009, the company received $600,000 in seed money from Sequoia Capital, with Youniversity Ventures partners Jawed Karim, Keith Rabois, and Kevin Hartz participating.[97] In November 2010, Greylock Partners and Sequoia Capital invested $7.2 million in a Series A round.
In July 2011, Andreessen Horowitz, Digital Sky Technologies, General Catalyst, and A Grade Investments partners Ashton Kutcher and Guy Oseary invested $112 million in the company.[98][17]
In April 2014, TPG Capital invested $450 million in the company at a valuation of $10 billion.[99] Additional funding was provided by Andreessen Horowitz, Sequoia Capital, Dragoneer Investment Group, T. Rowe Price, and Sherpa Capital.[100]
In June 2015, General Atlantic, Hillhouse Capital Group, Tiger Management, Kleiner Perkins Caufield & Byers, GGV Capital, China Broadband Capital, and Horizons Ventures invested $1.5 billion in the company.[101][102]
In September 2016, Google Capital and Technology Crossover Ventures invested $555.5 million in the company at a valuation of $30 billion.[103]
In March 2017, Airbnb raised $1 billion in funding, bringing total funding raised to more than $3 billion and valuing the company at $31 billion.[104]
In April 2020, Silver Lake and Sixth Street Partners acquired $1 billion in shares in the company at an $18 billion valuation[105] and $1 billion in debt at interest rates of 9%–11.5%.[106]
Corporate affairs
The key trends for Airbnb are (as at the financial year ending December 31):[107]
Year | Revenue (US$ bn) |
Net income (US$ m) |
Total assets (US$ bn)[108] |
Employees[109] | Sources |
---|---|---|---|---|---|
2014 | 0.4 | ||||
2015 | 0.9 | ||||
2016 | 1.7 | [110][111] | |||
2017 | 2.6 | −70.5 | 6.0 | ||
2018 | 3.6 | −16.8 | 6.6 | ||
2019 | 4.8 | −674 | 8.3 | 5,465 | [112] |
2020 | 3.3 | −4,584 | 10.4 | 5,597 | |
2021 | 5.9 | −352 | 13.7 | 6,132 | |
2022 | 8.3 | 1,893 | 16.0 | 6,811 | [113][114][115] |
2023 | 9.9 | 4,800 | 20.6 | 6,907 | [116][117] |
Regulations by jurisdiction
![](https://upload.wikimedia.org/wikipedia/commons/thumb/9/94/AirbnbToronto5.jpg/220px-AirbnbToronto5.jpg)
Regulation of short-term rentals can include requirements for hosts to have business licenses, payment of hotel taxes and compliance with building, city and zoning standards. The hotel industry has lobbied for stricter regulations on short-term home rental[118] and in addition to government-imposed restrictions, many homeowner associations also limit short term rentals.[119]
Europe
- Amsterdam: Hosts can rent their properties for up to 30 nights per year to a group of no more than four at a time.[120] Short-term rentals are banned in certain parts of the city.[121]
- Barcelona: Vacation apartments are subject to the highest rate of property tax; platforms must share data with regulators.[122][123][124]
- Berlin: Short-term rentals require permission from authorities. Hosts can rent individual rooms with the condition that they live in most of the property.[125]
- Ireland: Short-term rentals are restricted to a maximum of 90 days per year for primary residences; registration is required with local authorities and planning permission is required where a property changes use from private residence to full-time short-term rental. However, compliance with these requirements is minimal, with one study finding only 38 listed properties had the required planning permission, out of 25,000.[126][127][128]
- London: Short-term rentals are limited to 90 days per year.[129][130]
- Madrid: Listings without private entrances are banned.[131]
- Palma de Mallorca: Home-sharing sites are banned to contain tourism.[132]
- Paris: Hosts can rent their homes for no more than 120 days a year[133] and must register their listing with the town hall.[134]
- Rome: Short-term rental sites are required to withhold a 21% rental income tax.[135]
- Venice: Hosts must collect and remit tourist taxes.[136][137]
- Vienna: Short-term rentals are banned in specific "residential zones" within the city, with the exemption of apartments used primarily for the host's own residential needs.[138]
United States
- Arizona: Most regulations are not allowed since municipalities are prohibited from interfering in property rights.[139]
- Boston: The types of properties eligible for use as short-term rentals and the number of days per year a property may be rented are limited.[140][141][142][143]
- Chicago: Hosts are required to obtain a license. Single-night stays are prohibited.[144]
- Jersey City, New Jersey: Hosts are only allowed to rent for 60 days per year.[145][146]
- Los Angeles: Hosts must register with the city planning department and pay an $89 fee and cannot home-share for more than 120 days in a calendar year.[147][148]
- Miami: Short-term rentals are banned in most neighborhoods, in part due to lobbying efforts of the hotel industry.[149][150]
- New York City: Rentals under 30 days are prohibited unless the host is present on the property. Hosts are required to obtain a license and relatively few licenses have been issued.[151]
- Portland, Oregon: The number of bedrooms in a single unit that may be listed is limited.[152]
- San Diego: Units for short-term rental are limited to 1% of the housing stock and licenses are required.[153]
- San Francisco: Registration by hosts is required.[154]
- Santa Monica, California: Hosts are required to register with the city and obtain a license and are also prohibited from listing multiple properties.[155]
- Seattle: Hosts must obtain licenses and cannot rent more than two units.[156]
- Washington, D.C.: Hosts must obtain a short-term rental license, and, if the host is not present, those rentals are limited to a combined 90 days each year.[157]
- West New York, New Jersey: Short-term rentals are banned.[158]
Canada
- Toronto: Short-term rentals must be in a host's primary residence and hosts must obtain licenses.[159]
- Vancouver: Short-term rentals must be in a host's primary residence and hosts must obtain licenses.[160][161]
Asia
- Japan: Hosts are required to register their listing with the government; a home can be rented for a maximum of 180 days per year.[162]
- Singapore: Short-term home rentals of less than three months are illegal.[163][164]
Criticism and controversies
The company has been criticized for possibly enabling increases in home rents,[165] refusing to provide sensitive customer data to governments, and allowing listings in West Bank settlements. Airbnb has been criticized by the hotel industry for not being subject to fair regulations.[166] Critics have also noted how Airbnb resists sharing its listing data with regulators, often citing privacy protections as its reason for not cooperating.[167]
Effects on housing affordability
Several studies have found that long-term rental prices in many areas have increased because landlords have kept properties off the longer-term rental market to instead get higher rental rates for short-term housing via Airbnb.[168][169][170][171][172][126][173][174] Inside Airbnb, a watchdog journalism website, has accused the company of manipulating its data to portray a different result.[175] Landlords have also been accused of illegally evicting tenants to convert properties into higher-rent Airbnb listings.[176]
Concerns on the effect of Airbnb on housing affordability has resulted in increased lodging regulations and restrictions, which have generally been opposed by Airbnb via lobbying efforts.[177]
Inclusion of listings in Israeli settlements
In November 2018, Airbnb announced that it would remove the approximately 200 "listings in Israeli settlements in the occupied West Bank that are at the core of the dispute between Israelis and Palestinians". However, after affected property owners filed lawsuits against Airbnb in both Israel and the United States alleging discrimination based on place of residence, in April 2019, the company reversed its plans to remove listings in the West Bank and instead promised to donate any profits from these listings to non-profit organizations dedicated to humanitarian aid.[178][179][180]
According to 2020 and 2023 reports by the United Nations, the company continues to violate International Human Rights, profiting from illegal Israeli settlements in Occupied Palestinian Territories.[181][182] On February 12, 2020, Airbnb was included on a list of companies operating in West Bank settlements involved in activities that "raised particular human rights concerns" published by the United Nations Human Rights Council. The company was categorized under "the provision of services and utilities supporting the maintenance and existence of settlements".[183][184]
Criticism by the hotel industry
Airbnb has been criticized by the hotel industry due to its competitive effects and its different regulations. This has led to a decline in hotel revenue in some markets and an increase in lobbying by the hotel industry.[185][186][187]
Lack of loyalty program
Airbnb is one of the few major travel companies without a loyalty program, which has led to criticism by many customers. This is in part attributed to its lack of business customers, as reported by The Wall Street Journal.[188]
Objectivity of guest reviews
Airbnb features a review system in which guests and hosts can rate and review each other after a stay. Hosts and guests are unable to see reviews until both have submitted a review or until the time period to review has closed, a system that aims to improve accuracy and objectivity by removing fears that users will receive a negative review in retaliation if they write one. However, the truthfulness and impartiality of reviews may be adversely affected by concerns of future stays because prospective hosts may refuse to host a user who generally leaves negative reviews. The company's policy requires users to forego anonymity, which may also detract from users' willingness to leave negative reviews. These factors may damage the objectivity of the review system.[189][190][191]
Response to activities of far-right extremists
In August 2017, Airbnb cancelled numerous bookings and closed accounts belonging to attendees of the white supremacist Unite the Right rally in Charlottesville, Virginia, citing its terms of service in which members must "accept people regardless of their race, religion, national origin, ethnicity, disability, sex, gender identity, sexual orientation, or age."[192] The move was criticized by Jason Kessler, organizer of the rally.[193]
In January 2021, Airbnb was criticized for allowing participants in the January 6 attack on the United States Capitol to book units on the platform in the Washington metropolitan area, despite most hotels in the vicinity of Capitol Hill banning far-right extremists.[194] After the possibility of further violence during the Inauguration of Joe Biden, Airbnb announced the day after the Capitol raid that it was banning all bookings in the region prior to the inauguration.[195]
Sponsorship of 2022 Winter Olympics
Airbnb was one of the 15 leading sponsors of the 2022 Winter Olympics, held in Beijing, and was asked by human rights activists and groups to drop its sponsorship in March 2021 as part of diplomatic and activist boycotts over alleged human rights violations by the Chinese Communist Party, in particular the persecution of Uyghurs in China. These requests were ignored by the company.[196][197][198][199]
Length of terms of service agreements
In 2014, linguist Mark Liberman criticized the extreme length of the legal agreements that Airbnb members are required to accept, with the site's terms of service, privacy policy, and other policies amounting to "55081 words, or about the size of a short novel, though much less readable".[200]
Illegal behavior by hosts
Hosts have been accused of circumventing tax regulations,[201] circumventing Airbnb's background checks and subjecting guests to last-minute cancellations, moldy or rodent-infested lodging, theft, invasion of privacy, and even rape and murder,[202][203][204][205] as well as bait-and-switch scams in which the guest does not receive the promised accommodation.[206][207] Airbnb has noted that the number of these incidents is not statistically significant and has banned violators and associated accounts.[208]
Legal disputes
Failure to provide required information to governments
Many governments have passed laws requiring that Airbnb provide guest information so that local regulations can be enforced and hotel taxes are collected. Airbnb contested one such law in New York.[209][210] However, in May 2019, Airbnb agreed to turn over some anonymized information for approximately 17,000 listings so that the city could pursue illegal rentals.[211] Similar cases were settled in Boston and Miami.[212]
Airbnb refused to provide required information to the Belgian government, claiming the obligation to provide the information was not compatible with European Union law. The Belgian Constitutional Court referred the dispute to the European Court of Justice, which in April 2022 ruled that the requirement to transmit to tax authorities certain particulars of tourist transactions was not contrary to European Union law and referred the case back to the Belgian Constitutional Court.[213]
Legality of service fees in the Netherlands
In March 2020, a subdistrict court ruling in the Netherlands found that Airbnb charging service fees to both the host and the guest was illegal and that the 30,000 people who had rented as guests have a right for reimbursement if they file claims. Airbnb filed countersuits in an attempt to gain clarity on the ruling.[214]
See also
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Further reading
- Stone, Brad (2017). The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley Are Changing the World (1st ed.). New York: Little, Brown and Company. ISBN 978-0-316-38839-9. OCLC 953598607.
External links
- Official website
- Business data for Airbnb, Inc.:
- Airbnb companies grouped at OpenCorporates