American accommodation-booking platform co-founded in 2007 by Brian Chesky and two friends, who began by renting out an airbed in their living room in San Francisco. The platform boasts more than 8m listings across nearly every country. Its market value exceeds that of Marriott, the world's largest hotelier. Bookings made through the platform in the 12 months to June 2025 were worth $86bn, a 10% increase year on year, though the rate of growth has been falling.
Airbnb has pulled out of China, completely or in part, joining Starbucks and IBM among big Western multinationals that have retreated from the Chinese market.
Airbnb's five core markets—America, Australia, Britain, Canada and France—represent around half of nights booked through the platform, according to AirDNA, a data provider. Bookings are growing more than three times as fast in less-established markets. The company has boosted bookings in Brazil by investing in local marketing and adding payment options, and is trying something similar in India.
In 2016 Airbnb established a marketplace for "experiences" such as walking tours, along with a guidebook. In 2019 it set up a film studio. Costs ballooned by 45% that year. During the covid-19 pandemic Mr Chesky fired a quarter of its staff, merged divisions, removed management layers and paused the expansion into experiences. The company's stockmarket debut in December 2020 saw its shares more than double on the first day.
In May 2025 Airbnb launched an updated app offering a refreshed set of experiences and services. In October 2025 it introduced social features allowing users who meet through an Airbnb experience to stay in touch. The company is also moving into hotel bookings to attract business travellers. Hotels appreciate Airbnb because, unlike other booking sites, it does not spend lavishly on Google ads.
Policymakers in cities from Paris to New York have implemented restrictions on the platform, which they think contributes to surging house prices. Competition from Booking.com and Expedia is heating up for short-term lets. Airbnb has so far held off on integrating with AI services like ChatGPT, preferring to develop its own conversational AI approach.
A little inaccuracy sometimes saves tons of explanation.