Sharing economy has become very popular and companies like Uber and Airbnb has caused a paradigm shift in the travel business, and Airbnb are now planning to go public. That can happen as soon as next year.
The privately owned company Airbnb is founded in 2008 by Brian Chesky (CEO), Joe Gebbia and Nathan Blecharczyk. The firm is headquartered in San Francisco, California.
Airbnb is a website for people to rent out lodging. Users of the site must register and create a personal online profile before using the site. Every property is associated with a host whose profile includes recommendations by other users, reviews by previous guests, as well as a response rating and private messaging system.
Airbnb have just completed its latest round of fundraising, giving it a valuation of more than $10 billion. The company serves 1 million guests each month, with over 800,000 listings in more than 190 countries.
As of July 2011, the company had raised $119,8 million in venture funding from different partners. In April 2014, Airbnb closed on an investment of $450 million by TPG Capital at a valuation of approximately $10 billion.
Revenue is expected to reach as much as $1 billion in 2015, and that`s a big jump from $250 million in 2013. Airbnb could be the worlds second largest «hotel» company if it surpasses Starwood and Marriott, trailing only Hilton. It`s already bigger than Wyndham and Hyatt hotel chains with their valuation of $10 billion.
Airbnb is growing. In May 2011, they acquired a German competitor, Accoleo. That`s their fist international Airbnb office in Hamburg. In October same year, they established its second international office in London.
In 2012, they opened six more offices in cities like Paris, Milan, Barcelona, Moscow, Sao Paulo and Copenhagen. Their European headquarters would be located in Dublin. In 2012, they said they had focus on Australia, the second largest Airbnb market behind the United States, as well as Thailand and Indonesia.
They have earlier announced its strategy to move more aggressively into the Asian market with the launch of their newest headquarers in Singapore. The company`s goal is to acquire an additional 2 million properties within the continent.
I have earlier talked about Uber and their challenges. Some people say their business is illegal and so is it about Airbnb. Other people say their business model has raised legal concerns. Especially in New York, where state Attorney General Eric Schnederman launched a probe into the business. He suggest that more than half of Airbnb`s New York listings could be illegal.
Airbnb still belive in their business model and continue to work on an IPO.
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