The hogging of VC funds by airbnb, uber, and many other not startups is super unhealthy for the startup ecosystem. The public markets will eventually punish these companies for valuations that lack transparency. Airbnb is on the way out with their current short term renting business in most large cities. It's illegal and the quality of service is suffering dramatically. Supply side quality is on the way down. Demand…
Airbnb raises $1B at $31B valuation, became profitable in 2016
161–170 of 253 posts
Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#162Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#163Earlier quoted context omitted.
Instead of asking customers to give numeric star ratings, perhaps a better option would be a short list of Yes / No / Unsure questions. Were there clean sheets on the bed? Were there any cockroaches? Did the appliances work? Etc. Such questions are more objective and less prone to inflation.
Booking.com does it, btw. And I strongly prefer it.
Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#164Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#165I used to use airbnb quite often (as a traveler), but I have to say it's lost its appeal for me. First, it's really not much cheaper than a hotel in most cases (some cases more expensive). Second, it's a hassle when you're on vacation to have to arrange in advance a specific time to pick up the keys to the place. Then, what happens if you happen to lose the keys (happened to me once)? What happens if it's in the midd…
Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#166Earlier quoted context omitted.
I'm not saying this is the case with this round in particular, but it's not unheard of for early employees to take money off the table in a round like this
There was a very "insider baseball" moment in 2011 with regards to AirBNB and a well known investor "discussing" taking money off the table. Note, the investor was basically saying that if the founders get some liquidity, you should offer the same to employees. I will never forget how much that raise my esteem him. [0] So yes, if they were willing to do it in 2011, I am sure that they are doing it in this round too.…
Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#167Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#168I used to use airbnb quite often (as a traveler), but I have to say it's lost its appeal for me. First, it's really not much cheaper than a hotel in most cases (some cases more expensive). Second, it's a hassle when you're on vacation to have to arrange in advance a specific time to pick up the keys to the place. Then, what happens if you happen to lose the keys (happened to me once)? What happens if it's in the midd…
It's totally lost its feel of welcoming host. Now it's just another hotel that's poorly run by people who want to make a quick buck.
I stay to hotels even if it's slightly expensive. The level of service and quality is always guaranteed
Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#169Earlier quoted context omitted.
I recently booked a place in an apartment complex, and when I arrived, there were big signs at all the entrances saying it wasn't a hotel, that it was for residents only, and anybody found to be renting daily/weekly would be arrested as trespassers. I was only staying there for a couple of nights and didn't have time for the hassle of arguing with Airbnb at the time, so I just took the risk. After my stay, I reported…
Best bet is to report it to the condo association or property management company. AirBNB will basically turn a blind eye to those kind of rentals.
Until airbnb starts cleaning up their mess I think people will eventually realize that this is just another scam in the long run.
Re: Airbnb raises $1B at $31B valuation, became profitable in 2016
#170I used to use airbnb quite often (as a traveler), but I have to say it's lost its appeal for me. First, it's really not much cheaper than a hotel in most cases (some cases more expensive). Second, it's a hassle when you're on vacation to have to arrange in advance a specific time to pick up the keys to the place. Then, what happens if you happen to lose the keys (happened to me once)? What happens if it's in the midd…
That said, I've had good experiences with Airbnb for a very vacation-y vacation: house, middle of nowhere, by the beach sort of thing. I don't know of any sites that come close to the global selection Airbnb has.
THAT said, vacation-y vacation rentals are a lot smaller market than short term stays in very populated areas. If I recall, Airbnb launched some business travel capabilities not that long ago and they were not particularly successful. So my general impression is that Airbnb can be a totally successful business, but while it tries to justify a valuation like $31B (rather than focusing on core competencies) it runs the risk of ruining the whole thing.