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April 6 (Reuters) - Shares of Airbnb Inc (ABNB.O) fell as much as 6% on Thursday after an online independent publication released a report that probed unpleasant experiences that customers had during stays booked through the short-term rental platform. The company's shares were last down 5% in afternoon trading. Nights and experiences booked rose 20% from a year earlier but missed analysts' estimates. Last month, a fire broke out in a building in Montreal being used by long-term residents and short-term guests who booked lodgings through Airbnb. Some of the company's top professional hosts have cut out Airbnb and built their own booking platforms and are offering cheaper deals.

☆ Airbnb hosts who are booking up their spaces during the era of 'Airbnbust' share 3 strategies they're using to make money on the platform
▼ + stars: | 2023-03-28 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Many Airbnb hosts are currently facing empty booking calendars and stiff competition. Vacation rental bookings started slowing down in 2022 and we've since entered an era coined 'Airbnbust.' "You can make more monthly money because people will pay more for a vacation rental than a long-term rental," he told Insider. Heilbron owns a second Airbnb property in Pinehurst, North Carolina, where golf events are frequently hosted. Courtesy of Avery HeilbronAnother major perk of owning a short-term vacation rental in Pinehurst is that the village hosts a lot of golf tournaments, including the U.S.

☆ Airbnb cuts recruiting staff headcount
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

March 3 (Reuters) - Home rental firm Airbnb Inc (ABNB.O) laid off some of its recruiting staff this week, a company spokesperson said on Friday, noting that it's not an indication of more widespread layoffs. The decision, first reported by Bloomberg News, affected less than 0.4% of the San Francisco-based company's total workforce of about 6,800, the spokesperson said. "We've become a leaner and more focused company over the last three years," Airbnb spokesperson said in a statement, adding that the company expects to grow its headcount this year. The company said in February it expects headcount growth in the range of 2% to 4% in 2023, compared with 11% growth last year. In 2020, amid the COVID-19 pandemic, Airbnb laid off 25% of its workforce, or nearly 1,900 employees, after its business was hit hard as global travel came to a standstill.

☆ Airbnb to Cut Recruiting Jobs on Prospects for Slower Growth
▼ + stars: | 2023-03-04 | by ( Sabela Ojea | ) www.wsj.com time to read: 1 min

Last month, Airbnb warned about taking action to protect its cost structure after recording its first-ever annual profit in 2022. Airbnb Inc. is cutting recruiting roles across its workforce as it expects to grow at a slower pace in 2023, a representative said Friday. The human-resources layoffs come as the company looks to grow its head count between 2% to 4% this year. Airbnb declined to detail how many recruiting employees are losing their jobs. In 2022, the San Francisco-based company, which operates a marketplace offering short-term rentals, increased the size of its global workforce by 11%.

☆ Airbnb cuts recruiting staff by 30%
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

March 3 (Reuters) - Home rental firm Airbnb Inc (ABNB.O) laid off 30% of its recruiting staff this week, a company spokesperson said on Friday, noting that it's not an indication of more widespread layoffs. The decision, first reported by Bloomberg News, affected less than 0.4% of the San Francisco-based company's total workforce of about 6,800, the spokesperson said. "We've become a leaner and more focused company over the last three years," Airbnb spokesperson said in a statement, adding that the company expects to grow its headcount this year. The company said in February it expects headcount growth in the range of 2% to 4% in 2023, compared with 11% growth last year. In 2020, amid the COVID-19 pandemic, Airbnb laid off 25% of its workforce, or nearly 1,900 employees, after its business was hit hard as global travel came to a standstill.

☆ U.S. travel companies experience high demand but economic worries cloud outlook
▼ + stars: | 2023-02-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 24 (Reuters) - Fears of recession and the impact of inflation on consumer budgets could curb a rebound in travel demand reported by U.S. travel companies in the fourth quarter, although bookings are holding up so far this year, analysts said. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association. The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. International travel spurred demand growth for Airbnb and Marriott International Inc (MAR.O) in the fourth quarter. Group bookings are still down 15% compared to pre-pandemic levels, while headwinds in several industries continue to affect business travel, said Truist's Scholes.

☆ Booking Holdings says quarterly revenue up 36% on strong travel demand
▼ + stars: | 2023-02-23 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, Feb 23 (Reuters) - Online travel agency Booking Holdings Inc (BKNG.O) reported a 36% year-over-year increase in fourth-quarter revenue on Thursday, aided by sustained travel demand. The Booking.com and KAYAK operator's revenue rose to $4 billion for the quarter, exceeding Wall Street's estimates for $3.89 billion in revenue, according to Refinitiv data. Gross bookings for the quarter rose 44% from the year-ago period to $27.3 billion, the company said. Booking Holdings said gross travel bookings for fiscal year 2022 increased 58% to $121.3 billion. Other U.S. travel companies including Booking's peer, vacation rental Airbnb Inc (ABNB.O), also reported strong fourth quarter results on sustained travel demand, despite economic concerns.

☆ Airbnb Posts First Annual Profit as Travel Demand Remains Strong
▼ + stars: | 2023-02-15 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

An advertisement for Airbnb in Berlin. The company said it benefited from a pickup in European intracontinental travel. Airbnb Inc. recorded its first-ever annual profit last year, boosted by a rise in cross-border travel during the fourth quarter over previous years. The short-term rental company recorded a profit of $1.9 billion in 2022, after losing $352 million in 2021. Fourth-quarter profit of $319 million came in well ahead of the consensus analyst estimate of $171 million.

SummarySummary Companies Retail sales up 3% in Jan vs. est. A Commerce Department report showed retail sales surged 3% in January, driven by purchases of motor vehicles and other goods. "These numbers (retail sales) beat consensus by a long shot and it just shows that the consumer is still in a good spot," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Of the more than half of the S&P 500 firms that have reported results so far, nearly 70% have topped profit expectations, as per Refinitiv data. ET, Dow e-minis were down 82 points, or 0.24%, S&P 500 e-minis were down 11.25 points, or 0.27%, and Nasdaq 100 e-minis were down 25.5 points, or 0.2%.

Feb 15 (Reuters) - Adobe Inc (ADBE.O) will need to secure European Union antitrust approval for its $20 billion bid for cloud-based designer platform Figma even though the deal falls short of the EU turnover threshold for a review, EU regulators said on Wednesday. The move by the European Commission underlines regulators' worries on Big Tech acquiring smaller innovative rivals and the impact on competition. Photoshop maker Adobe had originally sought approval from antitrust agencies in Austria and Germany for the deal. Austria subsequently referred the case to the Commission, prompting the other EU countries to join in. "We look forward to working constructively with the European Commission to address its questions and bring the review to a timely close," a spokesperson for San Francisco, California-based Figma said.

☆ Airbnb confident on revenue as travel demand defies recession fears
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +1 min

A stronger U.S. dollar and reopening of closed borders have empowered consumers to spend more on travel even as recession fears have sparked concerns over discretionary spending. Airbnb said travel demand continues to be strong in the first quarter despite recessionary fears sparking concerns around consumer spending. The company forecast first-quarter revenue between $1.75 billion and $1.82 billion, higher than analysts' expectations of $1.69 billion, as per Refinitiv data. Revenue rose 24% to $1.90 billion during the holiday quarter ended December, lower than the preceding two quarters, but beat analysts' average estimate of $1.86 billion. Meanwhile, fourth-quarter average daily rates fell 1% to $153 and bookings rose 20% to $13.5 billion, below analysts' average expectation of $13.69 billion.

☆ Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF
▼ + stars: | 2023-02-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics (HZNP.O), which was bought by Amgen (AMGN.O) in December for nearly $28 billion. The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health (SGFY.N). It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank (TD.TO) roughly a year ago for $13.4 billion. Shares in Zoom Technologies Inc (ZTNO.PK) and Airbnb Inc (ABNB.O) were sold, while it reduced its holdings in Amazon.com (AMZN.O), by 54.5%, to 901 million shares. The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.

☆ Airbnb and Expedia Turn Customer Cash Into Profit, Aided by Rising Interest Rates
▼ + stars: | 2023-01-31 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Airbnb Inc. and Expedia Group Inc. invest billions of dollars of their customers’ money for their own profit. Thanks to rising interest rates, returns on these investments are higher than ever. The travel sites typically collect money from guests the moment they book. But they only pass it on to hosts or hotels after the guest stay starts, which can be several months later.

FTX said in a court filing in Wilmington, Delaware, late on Wednesday that the DOJ's proposed review would only add cost and delay to its bankruptcy case. As part of its own investigation, FTX asked U.S. Bankruptcy Judge John Dorsey, who is overseeing its Chapter 11 proceedings, to help it secure documents from Bankman-Fried, members of his family and other insiders with information about FTX transactions that used "misappropriated and stolen" funds. FTX is also seeking information about political donations by Mind the Gap, a political action committee founded by Barbara Fried, and Guarding Against Pandemics, an advocacy organization founded by Sam Bankman-Fried and his brother, Gabriel Bankman-Fried. The U.S. Department of Justice's bankruptcy watchdog has called for an independent investigation into its collapse, a request that received backing from a bipartisan group of U.S. senators. Sam Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges.

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco Bello/File PhotoZURICH/LONDON, Jan 26 (Reuters) - Financial watchdogs and government agencies from the United States, Japan and Switzerland are among creditors of bankrupt crypto exchange FTX, as well as companies including Airbnb and crypto giant Binance, a court filing has shown. A host of companies from traditional industries and the crypto sector, including Airbnb Inc (ABNB.O) and Binance, the world's largest crypto exchange and once an arch-rival of FTX, were also cited as creditors. FTX said last year it owed its 50 biggest creditors nearly $3.1 billion. FTX founder Sam Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges.

More than a decade later, those that heeded this advice went on to become game-changing tech behemoths, including CNBC Disruptor 50 companies Block , Pinterest , Slack, Twilio , and Cloudera. Seed rounds had a record deal value in 2022, and valuations continued to grow even as late-stage venture companies nearer to the public market suffered. Venture funds raised a record amount of money in 2022, with $162.8 billion closed across 769 funds, according to PitchBook and the NVCA. We've seen companies struggle as public companies and then skyrocket, so a lower value-IPO is not the end of the road." "But when you can generate new share in a difficult market, when the market does turn, they are in a perfect position to capture more market share and customers."

☆ This New App Wants to Pay You to Share Your Data For Advertising
▼ + stars: | 2022-12-20 | by ( Megan Graham | ) www.wsj.com time to read: +7 min

The amount of compensation will be determined by a “data score” reflecting factors such as whether consumers answer demographic survey questions and which apps and services’ data consumers are sharing. Caden’s app, which will let consumers share their data in exchange for cash. SHARE YOUR THOUGHTS Would you share your data with an app like Caden? She said if consumers’ data is used in ways they don’t expect, they could be turned off and abandon such platforms. Some other players that offer compensation for data have required consumers share their entire profile with all brands.

☆ S&P, Nasdaq extend losing streaks amid rising recession worries
▼ + stars: | 2022-12-07 | by ( David French | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. For the benchmark S&P 500 (.SPX), it was the fifth straight session that it has declined, while the Nasdaq (.IXIC) finished down for the fourth time in a row. The S&P 500 (.SPX) lost 7.34 points, or 0.19%, to close at 3,933.92 and the Nasdaq Composite (.IXIC) dropped 56.34 points, or 0.51%, to finish at 10,958.55. The S&P 500 is on track to snap a three-year winning streak. The S&P 500 posted seven new 52-week highs and seven new lows; the Nasdaq Composite recorded 61 new highs and 307 new lows.

☆ Airbnb Aims to Attract Big Landlords With a Cut of Its Rental Sales
▼ + stars: | 2022-11-30 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Airbnb Inc. is launching a listing service for rental apartments with some of the biggest landlords and property managers in the country, a bid to expand its business in multifamily buildings where owners often shun short-term rentals. The new service will feature more than 175 buildings managed by Equity Residential , Greystar Real Estate Partners LLC and 10 other companies, Airbnb said on Wednesday.

☆ Airbnb launches service allowing American renters to host apartments
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - Airbnb Inc (ABNB.O) said on Wednesday it is introducing a new listing service in the United States that will help renters find an apartment where they can host part-time. "As the cost of living continues to rise, renters can use the extra income earned by hosting part-time on Airbnb to contribute to their rent, save for a home, or pay for other living expenses," Airbnb co-founder Nathan Blecharzyck said. The short-term rental firm has partnered with more than 175 buildings in 25+ cities across the United States, the company said in a blogpost. Landlords who partner with the new listing service will get a share of the total booking revenue from Airbnb sublets - 20% in most cases, the WSJ report added. Renters have hosted on average nine nights per month and earned on average $900, Airbnb said.

“There’s no such thing as a set forecast right now,” said Sophie Kelly, senior vice president of whiskies at Diageo North America, speaking at the same event. The firm, a unit of Interpublic Group of Cos.’ Mediabrands, cut its growth forecast for next year to 4.8% from an earlier prediction of 5.8% in June. Organic revenue growth is a metric that removes the effects of currency fluctuations, acquisitions and disposals. Airbnb Inc. slashed its advertising spending and invested in brand marketing, lessening its reliance on search-engine marketing. “We knew that people are changing their behavior,” said William White, Walmart’s chief marketing officer.

☆ CIOs Can Play Key Role in Guiding Companies Through Slowdown
▼ + stars: | 2022-11-27 | by ( Steven Rosenbush | ) www.wsj.com time to read: +7 min

The market for cloud computing, business software, artificial intelligence and other so-called enterprise technologies has been a relative bright spot. “During times of economic uncertainty, companies look for ways where technology can drive growth and create more economic value faster,” said Juan Perez, chief information officer at Salesforce Inc. When budgets are under scrutiny, companies tend to focus on short-term solutions that can drive efficiency and productivity, Salesforce’s Mr. Perez said. Companies should take this opportunity to reconsider the pace of hiring and employ freelance workers where it makes sense. Additionally, CIOs say they are looking at the opportunity to hire valuable workers who lost their jobs at other companies or renew technology contracts on more favorable terms.

☆ Sequoia Capital Apologizes to Limited Partners for FTX Investment
▼ + stars: | 2022-11-22 | by ( Berber Jin | ) www.wsj.com time to read: 1 min

The collapse of FTX has placed Sequoia Capital in an unfamiliar position: damage control mode. The early backer of Apple Inc., Alphabet Inc.’s Google, and Airbnb Inc.—and one of Silicon Valley’s most successful venture-capital firms—apologized to its fund investors in a conference call Tuesday for its $150 million loss on the crypto exchange FTX and vowed to improve its due diligence process for future investments, said people familiar with the matter.

☆ More CMOs Are Investing in Their Personal Brands
▼ + stars: | 2022-11-18 | by ( Patrick Coffee | ) www.wsj.com time to read: +8 min

Efforts can include carefully composed LinkedIn posts about everything from corporate leadership to their costumes at the company’s recent Halloween party. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. “The best way to do that is for them to have their own strong personal brands,” said Ms. Pryor. Other marketing executives are getting help. SHARE YOUR THOUGHTS Should your company’s executives be able to expense ghostwriters for their personal social-media posts?

☆ Airbnb says single-room listings jump amid cost-of-living crisis
▼ + stars: | 2022-11-16 | by ( Abhijith Ganapavaram | ) www.reuters.com time to read: +2 min

Nov 16 (Reuters) - Airbnb Inc (ABNB.O) said on Wednesday it had recorded a "disproportionate" 31% rise in single-room listings on its platform in the third quarter, as more people sought extra income in the face of a cost-of-living crisis. The company said property listings rose across regions, without disclosing specific numbers, and to aid the growth, it unveiled an app update on Wednesday to make the process easier. Some popular tourist destinations have, however, blamed the company for aggravating housing shortages, as landlords increasingly rent out properties to vacationers amid a surge in travel, rather than going for long-term tenants. It is also expanding its 'categories' feature, which will allow users to book vacations without entering a destination. Reporting by Abhijith Ganapavaram in Bengaluru and additional reporting by Doyinsola Oladipo in New York; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

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