Doubling down on business travelers, Airbnb acquires Urbandoor
Airbnb has today announced the acquisition of Urbandoor, a platform that offers extended stays to corporate clients. The terms of the deal were not disclosed.
Urbandoor was founded in 2015, according to Crunchbase. One of the big differentiators between Urbandoor and Airbnb was not only its focus on business travelers, relocation, etc., but also that Urbandoor negotiated directly with multifamily owners rather than renters.
In other words, Urbandoor went directly to big real estate companies such as Greystar and convinced building owners, not renters, that extended stay rentals are a beneficial proposition. In fact, Greystar invested in Urbandoor, though the company’s complete financing history is unclear.
With this acquisition, Airbnb’s goals are two-fold.
The first is to increase supply on the Airbnb for Work side of the business, which continues to grow at a rapid clip. Originally launched as Airbnb for Business, the corporate side of Airbnb accounts for 15 percent of all bookings on the platform, and has grown 3x from 2015 to 2016, and again from 2016 to 2017. According to the company, 500,000 companies use the service to plan their business travel.
Though there seems to be plenty of demand for Airbnb properties from corporate