AirBnB is an online marketplace that connects people who want to rent their property for vacations rentals to people who are looking for rental property by charging a fee.
Image: company website
Started in 2008 by Brian Chesky and Joe Gebbia, and after the joining of third co-founder Nathan Blecharczyk, the site airbednbreakfast.com was launched officially which was later shortened to Airbnb.com. It is headquarted in San Francisco, California and it has presence in 191 countries and over 34000 cities with its international offices in 19 countries.
The business model followed by Airbnb is peer to peer accommodation with not owning even a single property. It’s a platform for vendors and customers to attract and make transactions. It cuts a service fee from the users and this is the primary source of income for Airbnb.
Recently, Airbnb made its valuation at $24 billion and its looking forward to warn upto $900 milion in revenue this year. In addition to the website,mobile applications for iOS, android and Apple watch are available for the customers so that they can book on the go. Since 2011, it has acquired a lot of travel companies with first acquisition being Accoleo, based in Hamburg. Airbnb has been one of a kind travel website and its creative idea is owed to the founders.