![]() ![]() To be specific, in 2008 large portion of US population was suffering financial hardships associated with the economic downturn. Further its value proposition and initial success is directly associated with the timing of its founding. When retail estate players suffered the heights of pain brought about by 2007-2009 recession, Aibnb’s light asset base (they do not own the properties available through their site) and unique value proposition brought its tremendous success. Concretely, Airbnb is not a traditional real estate company. While 11 year after its founding, some might have trouble defining what Airbnb actually is, part of its success is defined in what it isn’t. Value & Interesting elements of the company Pathways to a Just Digital Future Watch this tech inequality series featuring scholars, practitioners, & activists Along with homes for rent, allows its users to search through “Experiences”, which include pre-arranged multi destination trips, “Restaurants,” and recently even “Animals,” which stands for experiences where travelers can meet and interact with animals local to their travel destination (e.g., Zoo visit). Today, it is a 2.6 billion dollar travel empire (Business Insider 2018) and the largest provider of rooms available to travelers (Airbnb: 3M, three times as much as Mariott’s 1M) (Str 2019). Airbnb is not only a platform connecting travelers to locals wanting to rent their apartment short-term, but also a true disruptor of traditional hotel industry.Īirbnb was founded in 2008 as a platform enabling locals to list their homes for short term rental and travelers to have a lodging option alternative to hotels. Today, staying in a hotel and staying in a local’s home, or “AirBnB-ing”, seem equally favorable to new generation of millennial travelers. ![]() ![]() Twenty years ago letting strangers stay in your home when you are away for vacation seemed unthinkable. Airbnb has taken travel industry by storm. ![]()
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