Source: TechCrunch

To understand Airbnb, you must first understand the concept of the —

Sharing Economy: “A socio-economic ecosystem built around the sharing of human, physical and intellectual resources.” (The People Who Share)

Essentially, in the past few years this term has been used to describe the employment of digital platforms that allow consumers to “take advantage of unused assets, skills or services provided directly by an individual.” (SMH)

In the case of Airbnb, this means allowing users to list their homes/unused spaces on the site for rent.

Airbnb was founded in 2008 in San Francisco and since then has grown to the point that it could “usurp the InterContinental Hotels Group and Hilton Worldwide as the world’s largest hotel chain — without owning a single hotel.” (Fast Company)

For the past three years, I have stayed in 7 different listings in London, Paris, New York, San Francisco, Los Angeles, Claremont and Mountain View. Each of my experiences highlighted the power of the sharing economy, providing me with comfort, ease and affordability. Now, every time I travel I look at Airbnb before even considering booking a hotel room.

The service is designed to facilitate the process of listing a space and finding places to stay. By adding pictures and descriptions of the places, users are able to create a dynamic online marketplace representative of the prowess of the sharing economy in our lives today.

Like Airbnb, companies such as Uber have transformed the way consumers are able to fulfil their needs and desires as part of the on-demand economy that is currently taking over the service industry and the most powerful businesses in the world.

Source: Design Studio

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