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Expansion history: how Airbnb is changing the global real estate market

The idea of ​​Airbnb was born in 2007: then in San Francisco the recent graduates of the Rhode Island Design School, Brian Cesky and Joe Gebbia, had nothing to pay for renting an apartment that they rented together. On the eve of the next conference for designers, when there were not enough places in local hotels, Cesky and Gebbia decided to rent a living room: they created the site Airbedandbreakfast.com, and a week later three people stopped in their house, each of whom paid $ 80 for night.

The idea of ​​the company began with three air mattresses in the living room of Brian Chesky and Joe Gebbia – they gave the name to the service Airbedandbreakfast.com, which was later reduced to Airbnb
The idea of ​​the company began with three air mattresses in the living room of Brian Chesky and Joe Gebbia – they gave the name to the service Airbedandbreakfast.com, which was later reduced to Airbnb
Over the ten-year history of Airbnb, more than 260 million people have used the service. The company has 19 international offices and 4 million rental offers in almost 200 countries of the world. In March 2017, the cost of Airbnb Inc. was valued at $ 31 billion. In the Business Insider rating of “The $ 10 Billion Club,” this company is the second-largest American startup after Uber.

The rapidly growing popularity of the service has caused a number of problems: for example, conflicts between apartment owners and tenants, since the latter often sublet real estate without permission, hoteliers and local authorities are dissatisfied, because the owners of objects on Airbnb do not pay taxes on hotel business, and In the end, the irritation of landlords’ neighbors due to the noise from guests occupying early in the morning. In January 2018, Chesky said that one of the main tasks of the platform today is to achieve a balance of interests of three parties: companies, service users and people outside Airbnb.

Absorption of direct competitors
Airbnb began to absorb small companies – analogues of the service already three years after launch: in 2011 – German startup Accoleo, a year later – the British company Crashpadder. In 2015, co-founders of Rent Method, an American service that helps users find properties for rent, organize views and sign an agreement, joined Airbnb.

In 2017, the scale of acquisitions changed: in February, Airbnb bought Canadian company Luxury Retreats – a service for renting luxury housing around the world. The amount of bookings on Luxury Retreats is about $ 150 million per year. The company’s offers will be integrated into the Airbnb service. According to Bloomberg, this will create a new service under the working title Airbnb Lux, through which users will be able to rent penthouses and mansions owned by Luxury Retreats.

The acquisition of Luxury Retreats will help Airbnb to master the high-budget segment of the tourist market.
The acquisition of Luxury Retreats will help Airbnb to master the high-budget segment of the tourist market.
In November 2017, the international media discussed the news that Airbnb intends to acquire the European division of the American hotel corporation Wyndham Worldwide Corp., which is responsible for renting holiday homes. Buying an asset that owns tens of thousands of luxury properties in such popular resort locations like Dalmatia and Santorini, was supposed to help Airbnb expand the range of premium rental offers and attract more wealthy travelers. The package, which Wyndham put up for auction at a price of about $ 1 billion, included the companies Hoseasons, James Villa Holidays and cottages.com. It would be the biggest Airbnb deal in its history, however, according to the latest data, the company refused to bid.

Additional services for tourists
In the same way, Airbnb develops new services for tourists. In 2012, the company bought the NabeWise platform, which aggregates information on areas in different cities of the United States, and the Question and Answer service for travelers Localmind. Three years later, Airbnb purchased an online travel planning platform for Vamo; in 2016, a Spanish startup Trip4real, with which local residents could organize unique tours for travelers in their home towns.

In January 2017, Airbnb invested $ 13 million in a reservation portal for Resy restaurants and in September combined service with its platform. In May of the same year, the company joined the Deco Software development team to work together to integrate the service into applications for iOS and Android. In June, Airbnb bought a startup, Trooly, which monitors user behavior on the Internet to prevent transactions between property owners and tenants, bypassing Airbnb.

New Airbnb Real Estate Concept
At the end of 2017, there were reports in the media that Airbnb is planning to invest $ 200 million in the construction of residential complexes under the Niido brand Powered by Airbnb in various US cities.

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