Airbnb is a well-known internet rental marketplace where users may book rooms, flats, and vacation homes. The Rhode Island School of Design housemates Brian Chesky, Nathan Blecharczyk, and Joe Gebbia founded it in 2008. The current CEO of Airbnb is Brian Chesky, while the Chief Strategy Officer is Nathan Blecharczyk, and the Chief Product Officer is Joe Gebbia.
Since its beginning, Airbnb has expanded quickly and established itself as a recognized global brand with operations in over 220 nations. More than 750 million visitors have made hotel reservations through the company’s platform, which has more than 7 million listings. In its first public offering (IPO) in 2020, Airbnb went public and raised $3.5 billion.
The ownership structure of Airbnb is complicated, with various parties holding varying stakes in the business. Together, Brian Chesky, Nathan Blecharczyk, and Joe Gebbia own 43% of the stock of the company. Venture capital organizations including Sequoia Capital, Founders Fund, and Andreessen Horowitz are among the other significant shareholders.
Airbnb’s income decreased by 30% in 2020 as a result of the COVID-19 pandemic, which had a significant negative impact on the travel sector. The corporation has, however, displayed indications of revival in 2021, with revenues rising in the year’s first quarter. Airbnb made $887 million in sales during the first quarter of 2021, up 5% from the same time in 2020, according to its financial figures.
Despite the difficulties the pandemic has brought along, Airbnb has continued to turn a profit. In contrast to its net loss of $674 million in 2019, the corporation declared a net income of $219 million in 2020. The company’s cost-cutting initiatives, such as lowering marketing expenditures and terminating a quarter of its personnel, are responsible for its profitability.
With a valuation of more than $100 billion, Airbnb has emerged as one of the most successful startups in recent memory. The business’ success can be credited to its ground-breaking business strategy, which upended the conventional hotel sector. In addition to successfully utilizing technology to create a seamless user experience, Airbnb has also made it simple for both hosts and guests to book rooms.
Along with its commercial success, Airbnb has made a big difference in the travel sector. Travelers can now more authentically experience local culture and communities, and the platform has opened up new chances for hosts to make money by renting out their properties.
In conclusion, the three men who created Airbnb in 2008—Brian Chesky, Nathan Blecharczyk, and Joe Gebbia—are the company’s owners. Despite the difficulties the pandemic presented, Airbnb was able to maintain its profitability and displayed indications of recovery in 2021. The business’s disruptive business model, which upended the conventional hotel industry, and its skill in utilizing technology to provide a seamless user experience are both responsible for its success.