Airbnb's quarterly reports and official announcements

Airbnb to Launch 2-3 New Ventures Annually, Each Generating $1B

Oct 16, 2024, 03:50 PM

Airbnb CEO Brian Chesky has announced several new initiatives aimed at expanding the company's offerings and maintaining strong demand. Speaking on CNBC, Chesky revealed that starting next year, Airbnb will launch two to three new businesses annually, each expected to generate over $1 billion in revenue. These new ventures will not be capital intensive and will have similar profit margins to Airbnb's current operations. Additionally, Airbnb introduced the Co-Host Network as part of its 2024 Winter Release, designed to help local hosts manage properties more effectively. Chesky emphasized the company's commitment to lowering barriers for potential hosts and expanding beyond its core travel services. He also reflected on the evolution of Silicon Valley, noting a shift from a naïve optimism to a more realistic understanding of wealth generation and platform impacts. Chesky compared Airbnb's growth strategy to Amazon's, which started with books before expanding to other products.