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Airbnb Hits 10 Million Nightly Bookings
There’s no stopping Airbnb now; the popular online short-stay marketplace has just surpassed the 10 million nightly bookings. And some people have even started calling it a ‘business’ of all things.
Airbnb was founded back in 2008 and back then the idea of using the internet to book short-stay accommodation wasn’t mainstream in the least. Fast forward to today and the ubiquity of these types of marketplaces coupled with the growing comfort among consumers for shopping online and you have a thriving business in companies like Airbnb.
The growth of the company has also been a revelation of the times because June 2011 saw only 2 million nights booked via Airbnb. That was shattered in just five months as the company announced a doubling of bookings—at point a new night of travel was being booked every 2 seconds.
Another factor that has helped the company grow dramatically in the last few months is the growth of its international business. At the outset the US market was a big part of Airbnb’s business; today its less than half. The vast majority of the sites properties available for booking are in Europe and the rest of the world.
To date Airbnb has been funded to the tune of $120 million and it looks like investors are on the cusp of recouping their investment.