Airbnb, known as Airbedandbreakfast, has brought a drastic change in how people travel. The online business allows hosts to rent out their homes to anyone who plans to make a short stay. It offers travelers somewhere to bed down in a more spacious and homely set-up than a hotel room – and gives those with a spare room or house the chance to earn some extra money.
Brian Chesky is the CEO and one of the co-founders of hospitality service brokerage company Airbnb. At the beginning of his career, fewer people would use Airbnb (real name known as Airbedandbreakfast.com).
Inception
BrianChesky, an American Internet Entrepreneur, created and cofounded Airbnb, the room and home rental company in 2008 with Nathan Blecharczyk and Joe Gebbia. Brian Chesky is the Chief Executive Officer Airbnb, used by more than 500 million people in over 100,000 cities spread over in 191 countries. Brian, a former bodybuilder, finished his schooling in Rhode Island School of Design, where he met Gebbia. Brian, as an industrial designer, made $40,000 a year before he joined Airbnb.
Family background
Brian Joseph Chesky was born on 29 August 1981. His hometown is in Niskayuna, New York. Brian was interested in art, drawing, and design since his childhood. His parents, mother Deborah Chesky and father Robert H. Chesky, were social workers. He has a sister named Allison, who is younger than him. As far as his family background, his mother from the Italian side and polish ancestry from his father’s side that makes his ethnicity mixed.
Evolution
Airbnb facilitates short term lodging for travelers. It operates an accommodation marketplace allowing people to list their available living spaces on lease or rent. At the time of inception, this concept of short term lodging was negligible form; it grew steadily down the line. It also allows users to book their experiences related to tourism and make reservations at restaurants.
Airbnb allows bookings at listings in more than 81,000 cities across 191 countries – a feat that it was able to achieve within just a few years because of its inception as just an intermediary (or broker) connecting people looking to rent out their living space, and also for those looking for a place to stay. Airbnb requires no investment, unlike many hotel companies. All it requires the number of hosts and guests. The company makes money by charging a percentage of the service fee from the host and the guest as well. Currently, the company charges host a service fee of 3% of the booking amount, while the service fee for guests ranges from 0-20% of the booking amount
Philanthropy
Airbnb partnered with New York City Mayor Michael Bloomberg in 2012 to offer free housing for people displaced by Hurricane Sandy. It built a microsite, where victims registered for housing and property owners offered free housing. Service fees were waived. In 2013, Airbnb launched its Global Citizenship Champion program in cities where its offices are located.
It launched Open Homes, to connect hosts offering free or low-cost housing to uprooted people, such as refugees and those fleeing natural disasters. Airbnb employees contributed “11,000 business hours of service to 250 projects worldwide” on the “Paid-time Off” basis to be used for volunteering.
Net Worth of Airbnb in ’2024’
Airbnb has made a wealth creation worth of $4 billion as of April 2024. The hospitality service brokerage company in San Franciso has since been successful and most recently acquired HotelTonight for over $400 million. Brian is undoubtedly one of the co-founders of Airbnb, drawing his salary in more than five-figure digits.
Airbnb has become one of the most exciting companies nowadays, and which is why people are looking to buy Airbnb stock. Right now, there is no Airbnb stock available to buy, which means the general public can’t buy its stock. Airbnb is taking the hospitality industry to another level, in many ways like what Lyft and Uber are, but for a different industry. Definitely, the future for AirBnB is very bright.