Airbnb
Ad Age 2018 A-List advertising and communications agencies.
In the class our professor told us about the Ad Age 2018 A-List advertising and communications agencies . We got the chance to have a tour on the article and find out the top marketing and communication agencies for 2018. The one that catched our eyes was Airbnb.
What is Airbnb?
Airbnb is an online marketplace connecting travelers with local hosts. On one side the platform enables people to list their available space and earn extra income in the form of rent. On the other, Airbnb enables travelers to book unique home stays from local hosts, saving them money and giving them a chance to interact with locals. Catering to the on-demand travel industry, Airbnb is present in over 190 countries across the world.
Founders, Funding received, Salient features & Facts:
Airbnb was founded on 1 August, 2008 and in a short span of time it grew as a technology masterpiece. Having received a massive funding of $2.3 Billion from 31 different investors, Airbnb is a part of the Billion dollar club. Here are few interesting facts about Airbnb.
· Founders: Nathan Blecharczyk, Joe Gebbia and Brian Chesky.
· Funding received: $2.3 Billion (Till June 2015)
· Airbnb company valuation: $25.5 Billion (As of June 2015)
· Airbnb is present in 34,000+ cities across 190+ countries.
· Having 1.2 Million listings, the company has served over 35 Million guests.
· Headquarters: San Francisco, California, USA.
· 140,000+ people stay at an Airbnb listed place everyday.
Value Propositions of Airbnb
· Enables owners to list their space on the platform and earn rental money.
· Airbnb provides insurance to listed properties.
· Gives cheap options to travellers to stay with local hosts.
· Facilitates the process of booking living space for travellers.
· Rating and review system for hosts and guests.
The 5 step model about how Airbnb works:
1. Hosts list out their property details on Airbnb along with other factors like pricing, amenities provided etc.
2. Airbnb sends a professional photographer (if available) to the property location in order to take high quality photographs.
3. Travellers search for a property in the city where they wish to stay and browse available options according to price, amenities etc.
4. Booking is made through Airbnb where traveller pays the amount mentioned by host and some additional money as transaction charges.
5. Host approves the booking. Traveller stays there and finally Airbnb pays the amount to the host after deducting their commission.
The host and the traveler can rate each other and can write reviews based on the experience.
How Airbnb finds customers?
A customer for Airbnb can find and use airbnb via Social Media, word of Mouth, Digital Marketing including Internet ads and campaigns and lastly via promotional offers. It is fast and easy for everyone to get to know the Airbnb network.
Airbnb Timeline
The Future of Airbnb
Airbnb is already a multi billion company and is sure to grow further. Having a presence in 190+ countries across the world, it is now concentrating to further increase the daily transactions on its platform. With a total funding of $2.3 billion till date, the unique business model of Airbnb has even become stronger as people prefer staying at an Airbnb inn rather than a hotel.
Georgia Simitzi
Team: Georgia Simitzi Renata Stav Σοφία Τσαβδαρίδου Κωνσταντίνα Μουντάκη Stavriana
Professor: Betty Tsakarestou
