London is the most active city on the app: Airbnb insight repor
From affordable accommodation to one of the hottest private companies in the world, the rise of Airbnb is worth noticing.
10 years ago, when Brian Cheky, Joe Gebbia and Nathan Blecharczyk founded the service wanting to help short-term travelers find affordable accommodation and renters in making an extra buck by renting out spare rooms, they never imagined the impact the platform would have and the fact that with Airbnb you can experience cities more affordably and in a less touristy way.
Now, as a company that blows its internal forecasts by bringing in $93 million in profit on $2.6 billion in revenue during 2017, it’s a must for cities like New York, Paris and London, where hotel rooms are hard –or expensive– to book.
Home rentals are hard. They don’t bring the same fat profit margins online travel agencies are used to getting from hotel booking.
Home rentals are the hottest part of the online travel-booking industry, and Expedia is not willing to let Airbnb have all the fun.
Expedia Group Inc. purchased HomeAway in 2015, a platform that generates about $300 million in revenue a quarter, or about 10% of Expedia’s total, according to Bloomberg, as a part of its ambition to compete.