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AirBnB hopes to have 1 million stays per night by summer

Discussion in 'News' started by Estuarto, May 28, 2015.

  1. Estuarto

    Estuarto Active Member

    Wow, that number just sounds huge!


    Over 500k people are staying in an Airbnb tonight. And the company hopes to have nearly 800k staying in one by this summer. CEO Brian Chesky gave these numbers at Code today, revealing his wide-eyed plan for the housing yield-management startup.

    In addition to wanting there to be a million stays by summer, Chesky expressed his desire for Airbnb to own all experiences around a vacation:

    “Let’s say you get off a plane in Paris. People don’t go to cities to stay in homes,” he told Kara Swisher onstage. “They go to cities to have an experience. What would you want in Paris?” “A French person yelling at me,” joked Swisher. “Okay, imagine that you can do it on demand.”


    While he did confirm that they would not be doing flights, Chesky remained vague, though he did say he wanted Airbnb users to be able to design their entire trip experience through Airbnb. The service currently partners with Handybook for cleaning, but could possibly scoop up one or all of the thousands of “Airbnb for experiences” startups out there to round out its offerings: Peek, Vayable and Dopios for starters.

    And this, perhaps, is why the company is raising a muffin-basket-load of money, a fact that Swisher brought up and we had earlier reported: “We’re doing well and we don’t need to raise more money,” Chesky told Swisher. “I don’t think you’re profitable and I do think you’re raising more money,” she retorted.

    The last confirmed valuation of Airbnb was $13 billion, half of what Marriott is worth. We reported that it was raising $20 billion back in February.

    Chesky was chuffed about the company’s recent traction in Cuba, the fact that one-fifth of the 600k people who stayed in Brazil at the 2014 World Cup stayed in an Airbnb, and that 55 percent of Airbnb hosts are women. To match that user demographic, 47 percent of Airbnb employees are women and 40 percent of managers are women. (The board is all men, but Chesky said he had hopes they could bring on a woman “soon.”)

    And now, as it nears a million stays a night after seven years of existence, Airbnb wants to be much more than homes. Chesky revealed onstage that the No. 2 use case of Airbnb is staying with friends and family.

    Airbnb hasn’t always been as easy to understand as “renting a place someone else isn’t using.” As our Ryan Lawler summated:

    Investor Fred Wilson famously passed on the company, despite Paul Graham’s insistence that the idea was much bigger than just renting out your couch to a stranger. One investor walked out of a pitch meeting in a cafe when one of the founders went to the bathroom. And then there’s the story of how the founders were, for a time, living off the breakfast cereal they had taken to the Democratic National Convention in 2008.

    The company offers an insane variety of properties to rent from mansions to trailers parked on a dirt lot. And Chesky, along with co-founders Joe Gebbia and Nate Blecharczyk, has taken the company a long way from a friend’s couch.

    “I used to worry about competitors,” he reminisced, “but Paul Graham told me that startups die of suicide not homicide. Startups die of self-inflicted wounds. And the older you get the stronger the wind gets.”
  2. Estuarto

    Estuarto Active Member

    The title of the article is a little misleading, sounds like they are half-way there and are looking to nearly double this summer. I would expect more marketing hitting hard sooner then later. I'm surprised they don't ramp up their referral program like Uber.

    Interesting that Chesky is eluding to an expansion of services to be more all encompassing for travel.

    I hadn't seen this stat before that 55% of AirBnB hosts are women.
  3. Matt S

    Matt S Active Member

    1 million stays. I wonder what the average premium they are charging is. One of these third party sites probably has it figured out. Let's say they average $10 per stay gross. That would be $3.65 billion a year in revenue? Still have to get to that 1 million stays first though. Love this photo that techcrunch used. Looks like a man who is thinking hard how to make billions.

    SI MON likes this.
  4. Matt S

    Matt S Active Member

    All the headlines are saying AirBnB approaching 1 million stays per night. When in reality they are half-way there. I found this quote regarding the conceptual expansion that Chesky eluded to

    “The biggest asset someone has is their time,” Chesky said. “Hospitality shouldn’t be limited to sharing your homes.”
  5. SI MON

    SI MON New Member

    Kind of evil lookin.
  6. Matt S

    Matt S Active Member

    Money is the root of all evil.
    SI MON likes this.

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