Airbnb set to double investment in China
Print Edition
AIRBNB, the home rentals website, said yesterday that it would double its investment in China, triple its workforce there and change its name to “Aibiying” in Chinese.
Airbnb CEO Brian Chesky said the name, which translates to “Welcome each other with love,” reflected the company’s commitment to succeeding in the country.
“There’s a whole new generation of Chinese travelers who want to see the world in a different way,” Chesky said at a launch event in Shanghai.
“We hope that Aibiying ... strikes a chord with them,” he said in a company statement.
The company did not provide figures on the increased investment.
Airbnb recently ended a successful US$1 billion fundraising drive.
Airbnb now has 60 employees in China and wants 180 by the end of the year, a spokesperson said.
There have been 5.3 million guest check-ins by Chinese travelers at Airbnb listings around the world, and outbound travel from China grew by 142 percent in 2016 alone, according to the company.
Domestically, Airbnb will aim to grow from its approximately 80,000 existing listings in China, where the website became available at the end of 2014.
Airbnb competes in the world’s second-largest economy with domestic home rental websites Tujia.com and Xiaozhu.com.
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