Airbnb has steadily grown from a startup with a brilliant idea to a huge company with a global presence. It recently raised between $450 and $500 million in a funding round which puts it valuation at a whopping $10 billion.
Such a huge valuation number means that Airbnb has outgrown its startup days and has entered the major league of the tech companies. It must be noted here that the $10 billion valuation puts it ahead of many established and old hotel chains.
The key reason behind Airbnb’s growth is it’s unique take at linking people seeking rentals or property with the people offering them. Not only that, the ability to do it all through sleek mobile apps is what makes Airbnb an ideal for the tech-savvy folks. Finally, Airbnb has aggressively tried to take on a global outlook, amassing users in Europe, US as well as Asia and several other regions. This gives Airbnb’s services a truly global appeal.
The company was launched back in 2008 and has inspired raving reviews since its creation. It has also run into legal problems in certain cities where the authorities have questioned Airbnb users renting out their spaces when it’s not legal. Despite all these troubles, the service continues to be immensely popular and has been used by more than 10 million guests to date.
Commenting on the success and philosophy of Airbnb, the company’s co-founder and CTO Nathan Blecharczyk says, “We don’t think we’re just in the business of providing accommodation. Really, what our customers are caring out, is their trip as a whole. We want to think about that pretty holistically.”