Airbnb CEO Brian Chesky has expressed his ambition to transform the Airbnb platform into the “Amazon of travel.” He also revealed plans to invest between $200 million and $250 million in a new product set to launch on Airbnb’s service this May.
According to Airbnb’s report, its revenue for the fourth quarter of fiscal year 2024 reached $2.48 billion, reflecting a 12% increase compared to the same period last year.
During the earnings call, Chesky disclosed that the upcoming Airbnb service expansion will receive a substantial investment of $200 million to $250 million. This initiative aims to evolve Airbnb beyond its existing short-term rental model into a scalable platform offering a diverse suite of services—akin to Amazon’s ability to fulfill a wide range of travel and lifestyle needs.
In drawing parallels, Chesky likened this transformation to Amazon’s own evolution, which initially focused on book sales before expanding into DVDs, CDs, and eventually an extensive e-commerce empire. Today, Amazon spans cloud services, hardware, artificial intelligence, and an array of products that cater to users’ everyday needs.
Chesky’s ultimate vision is to make Airbnb an indispensable part of users’ lives, encouraging them to engage with the platform more frequently. He envisions a shift from the current model—where users typically book stays once or twice a year—to a future where Airbnb becomes an essential service used on a weekly basis.
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