Airbnb


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Why Airbnb Will Be Worth More Than Uber

Why Airbnb will be worth more than UberEric Johnson / ReCode - 10 months ago
  • Last year, Airbnb raised a $1 billion round that valued it at $31 billion — a lot of money for a private company, but a distant second to Uber, which this week received proposals that could value the ride-hailing company at as much as $120 billion when it goes public in 2019.
  • On the latest episode of Pivot with Kara Swisher and Scott Galloway, Galloway predicted that that power dynamic will get flipped, and that Airbnb will be the more valuable company in the long run.
  • “Uber has incredible supply, but with $50 million, you and I could start a ride-hailing service in D.C.” Galloway said.
  • “Airbnb has to have global demand, because if you’re coming in from Austin, it means you’re not there,” he added.

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Uber, Airbnb Want To Be Able To Pay Drivers, Hosts In Company Shares

Uber, Airbnb want to be able to pay drivers, hosts in company sharesCyrus Farivar / Ars Technica - 10 months ago
  • In recent weeks, both Uber and Airbnb have sent formal letters to the Securities and Exchange Commission, asking the regulatory agency to expand efforts that would allow driver and hosts to also be paid in company shares.
  • The move comes nearly three months after the SEC asked for public comment in a proposed revision to "Rule 701," which currently requires that anyone paid in stock be an investor or an employee.
  • In fact, Uber told the SEC that it prefers the term "entrepreneurial economy"—odd, given that Uber drivers have no ability to set their own price.
  • "Uber, instead of just admitting that their drivers are employees, is trying to create a regulatory environment in which, upon going public, they can issue stock to drivers as compensation," Veena Dubal, a labor law professor at the University of California, Hastings, in San Francisco, emailed Ars.

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Facebook Says Other Apps Not Caught In Hack

Facebook says other apps not caught in hackBBC Technology / BBC - 11 months ago
  • Facebook has said that services which let users log in using their accounts do not appear to have been compromised in the recent security attack.
  • Tinder and Airbnb are among those which accept Facebook log-ins as an alternative to creating an account.Initially Facebook had suggested it was possible platforms such as these could also have been compromised.
  • The firm's former security chief said this was an implication of reporting a breach before investigating fully.The breach was announced on Friday 28 September, one day after Facebook notified the Irish data regulator, but with many unanswered questions.
  • Alex Stamos, who left his post as the firm's chief security officer in August, tweeted that new European privacy laws mean that firms must report data breaches before they know full details themselves.

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Car-sharing Network Turo Expands Service In UK

Car-sharing network Turo expands service in UKKirsten Korosec / TechCrunch - 11 months ago
  • Turo — the peer-to-peer car-sharing marketplace sometimes referred to as the ‘Airbnb of cars’ — is expanding to the UK.
  • Turo first launched in 2009 as Relay Rides and rebranded with a new name in 2015.
  • The UK is the company’s most-searched-for destination outside North America, according to Turo CEO Andre Haddad, who added that British guests in the U.S.
  • Turo markets itself to car owners as a way to earn extra money and cover the cost of owning their vehicle.

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Airbnb Wants To Give Its Hosts Equity In Its Business

Airbnb wants to give its hosts equity in its businessJon Russell / TechCrunch - 11 months ago
  • Airbnb wants to give the homeowners who power its service the opportunity to own a piece of its business.
  • Specifically, Airbnb is seeking a change to the SEC’s Rule 701 — which governs ownership of equity in companies — to allow a new kind of shareholder class for workers who participate in gig economy companies and their services.
  • “As a sharing economy marketplace, Airbnb succeeds when these hosts succeed,” the company wrote in one passage.
  • Airbnb is said to be planning to go public potentially as soon as next year.

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Detroit Quickly Reverses Ban On Airbnb After Backlash

Detroit quickly reverses ban on Airbnb after backlashSasha Lekach / Mashable - 2 years ago
  • Detroit city officials reversed course quickly on a partial Airbnb rental ban.Image: Bill Pugliano/Getty ImagesBy Sasha Lekach2018-02-09 22:09:06 UTC
  • Airbnb rentals in Detroit were banned this week in certain neighborhoods after changes to the city's zoning ordinance went into effect.
  • But once hosts flagged city officials and Airbnb about cease and desist notices, it turned out no one — not even the mayor — knew that the partial ban was in place.
  • By Friday, the city had assured it wasn't actually going after hosts renting out rooms on Airbnb.

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Airbnb Reportedly Built An Internal Hedge Fund That Makes $5 Million Per Month

Airbnb reportedly built an internal hedge fund that makes $5 million per monthChris O'Brien / VentureBeat - 2 years ago
  • A new report about executive turmoil at Airbnb includes a fascinating detail about how the company is generating its growing profits.
  • According to a story from Bloomberg, former CFO Laurence Tosi, who had previously worked Blackstone Group as CFO, took Airbnb’s cash flow and created an internal hedge fund.
  • According to Bloomberg, Tosi “quietly built a hedge fund within the company’s finance department.
  • The revelation is part of a larger story about the events that led to Tosi’s recent departure from the company.

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Airbnb CFO Laurence Tosi Is Out

Airbnb CFO Laurence Tosi is outMegan Rose Dickey / TechCrunch - 2 years ago
  • Airbnb CFO Laurence Tosi is leaving the company, Airbnb announced today.
  • In a blog post, Airbnb said Tosi “has decided to dedicate his full time and energy to his investment fund, Weston Capital Partners, and dedicate time to the several external boards he currently sits on.”
  • With Tosi out, Airbnb Head of Financial Planning and Analysis Ellie Mertz will serve as the interim CFO, Recode reports.
  • “The COO is one of the most critical positions in any company,” Chesky said in the blog post.

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A New Study Of Airbnb Paints An Ugly Picture Of The Company’s Impact On New York City Housing

A new study of Airbnb paints an ugly picture of the company’s impact on New York City housingTaylor Hatmaker / TechCrunch - 2 years ago
  • For anyone who knows their city well, it’s easy to see that the short-term rental boom spurred by Airbnb’s massive popularity is changing things.
  • The new study, conducted by McGill Urban Planning professor David Wachsmuth, offers up some pretty striking data points. While its analyses were conducted independently, the study itself was commissioned by the Hotel Trades Council and the AFL-CIO, two entities with a vested interest in keeping hotel business booming, so bear that in mind.
  • For starters, the study estimates that Airbnb has driven up long-term rental prices by 1.4% or $384 per year for the median New York City renter.
  • To reach those conclusions, the study drew from a comparative model developed by UCLA to rule out confounding variables that, specific to New York, might be driving those increases:

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WeWork Is Pitching Itself To Politicians As Not Part Of The Problem

WeWork is pitching itself to politicians as not part of the problemTheodore Schleifer / ReCode - 2 years ago
  • WeWork has differed from its peers in the startup economy like Uber and Airbnb by escaping from the political and regulatory firefights that defined the early days of those insurgent companies.
  • But now the $20 billion office company is sharpening its political image as a friendly booster of cities’ local economies, part of an extended, months-long pitch that starts Friday at the U.S.
  • “WeWork isn’t a corporation that comes to a city for the economic incentives only to close its doors a few years later,” the company said in a blog post, shared early with Recode, that lays out their new messaging.
  • WeWork purchases, divides up, and then rents out office space to entrepreneurs.

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Airbnb Reached Full-year Profitability For 2017, And It’s Adding A Former Amex CEO To Its Board

Airbnb reached full-year profitability for 2017, and it’s adding a former Amex CEO to its boardKara Swisher / ReCode - 2 years ago
  • Airbnb will show $100 million in cash-flow profitability for the full year in 2017, according to sources close to the situation, as the company said high-profile exec Kenneth Chenault will join its board.
  • The addition of the former American Express leader, as well as a solid stretch of profitable quarters, sets up the short-term home rental company for what many expect is an initial public offering in 2018.
  • Airbnb showed its first quarterly profit in 2016, but its fortunes have improved with expansion to China and also with the addition of new products like additional travel experience offerings.
  • In a vision memo to its superhosts, CEO Brian Chesky reflected on the decade-long journey of Airbnb.

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Airbnb Purges Thousands Of San Francisco Listings Overnight

Airbnb purges thousands of San Francisco listings overnightDara Kerr / CNET - 2 years ago
  • Airbnb deactivated thousands of San Francisco hosts to be in accordance with new legislation.
  • If you were hoping to rent out a room on Airbnb in San Francisco, the pickings just got a lot slimmer.New legislation went into effect on Wednesday requiring all Airbnb hosts to register with the city.

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Airbnb Now Lets You Book With A 50% Deposit

Airbnb now lets you book with a 50% depositPaul Sawers / VentureBeat - 2 years ago
  • Airbnb announced that it will now let guests book with a deposit, marking a notable shift from the current state of play that requires you to pay the full amount up front.
  • The new “pay less up front” option was tested prior to launch, and Airbnb said that around 40 percent of guests chose to delay full payment when presented with the opportunity.
  • With nearly $5 billion in equity investment, Airbnb has emerged as the poster child for the home-sharing economy, an industry that has disrupted the traditional holiday letting market.
  • Airbnb, for its part, is expected to go public in the next couple of years, and in the meantime it’s pushing to make its platform more appealing to guests.

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Airbnb Now Lets Users Pay Less Up Front For Bookings

Airbnb now lets users pay less up front for bookingsJordan Crook / TechCrunch - 2 years ago
  • Airbnb has today announced a new feature that will help users manage their payments on the platform.
  • This comes on the heels of another payments feature that lets group travelers split payments at the time of booking.
  • Airbnb said that, during testing of the Pay Less Up Front feature, 40 percent of guests chose to go with that option and chose higher-value bookings.
  • Airbnb determines the amount that can be paid up front and the amount that is due a few days before check-in, which the company says is usually 50 percent.

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Airbnb’s CEO Is Promoting Home Rentals In Places Trump Reportedly Labeled ‘shithole Countries’

Airbnb’s CEO is promoting home rentals in places Trump reportedly labeled ‘shithole countries’Jason Del Rey / ReCode - 2 years ago

Chicago Startup Savant Helps Gig Workers Track Earnings And Calculate Taxes

Katherine Davis / VentureBeat - 2 years ago
  • For those who work for several gig economy platforms, like Uber, Airbnb or Turo, keeping track of earnings can be overwhelming when they are coming from so many different companies.
  • The Chicago-based online platform, which launched in beta mode in December, is designed to help gig economy workers track their earnings and efficiently file their taxes.
  • It was founded by former senior vice president at Motorola, Google, and Lenovo Iqbal Arshad; former Techweek COO Chris Bordeaux; and tech entrepreneur Jason Randolph.
  • VentureBeat’s Heartland Tech channel invites you to join us and other senior business leaders at BLUEPRINT in Reno on March 5-7.

How Facebook, Twitter, Airbnb Feel About The Net Neutrality Vote

Ian Sherr / CNET - 2 years ago
  • The Federal Communications Commission voted Thursday to put an end to the Obama-era net neutrality rules, which required service providers to treat all internet traffic equally.The response from the tech industry was swift and loud and predictable.
  • GoogleA Google spokesperson said the company is committed to net neutrality, despite the vote.We remain committed to the net neutrality policies that enjoy overwhelming public support, have been approved by the courts, and are working well for every part of the internet economy.  We will work with other net neutrality supporters large and small to promote strong, enforceable protections.AirbnbBrian Chesky, CEO for the hot room-renting startup, said he was disappointed.
  • The FCC’s vote to repeal net neutrality is wrong & disappointing.
  • MozillaThe Firefox maker's head of policy, Denelle Dixon, said the decision was a result of "a broken process, broken politics, and broken policies."We are incredibly disappointed that the FCC voted this morning – along partisan lines – to remove protections for the open internet.

Seattle Approves New Airbnb Regulations To Limit Short-term Rentals To 2 Units Per Host

Monica Nickelsburg / GeekWire - 2 years ago
  • Short-term rental advocates Sarah Vallieu, Darik Eaton, and Candi Canncel at a Seattle City Council meeting.
  • New Airbnb operators in Seattle will not be able to rent out more than two units on the popular short-term rental platform under new rules passed by the Seattle City Council on Monday.
  • The council approved a new set of regulations designed to prevent property owners from operating Airbnbs and other short-term rentals as if they were hotels.
  • The new rules limit hosts to two dwelling units each and require them to obtain special licenses to operate short-term rentals.

Glassdoor: Facebook Is Consistently The Best Tech Company To Work For In The U.S.

Emil Protalinski / VentureBeat - 2 years ago
  • Career website Glassdoor today released its 10th annual Employees’ Choice Awards, a list of the 100 best companies to work for in the coming year.
  • Going back a few years, Airbnb was first for 2016, Google led for 2015, and Twitter won for 2014.
  • Every year, tech companies are prominently displayed on top lists like Glassdoor’s.
  • The Employees’ Choice Awards is based on the input of employees who choose to provide feedback (at least 1,000 must respond) on their job, work environment, and company via an anonymous online company review survey.

MyVR Raises $6.1 Million To Grow App Marketplace For Airbnb Hosts And Property Managers

Khari Johnson / VentureBeat - 2 years ago
  • MyVR today announced that it has raised $6.1 million to expand its multichannel property management platform.
  • Today, the platform and its marketplace enable property managers to do things like sync activity between booking services and bring together software from companies like Stripe, MailChimp, and Quickbooks.
  • “In the past year, we’ve launched an app marketplace and services marketplace, and this is one of the big reasons for our funding.
  • The $6.1 million round was led by True Ventures, with participation from existing angel investors.