Airbnb co-founder Joe Gebbia quits ‘to focus on other projects’

AirbnbThe Joe Gebbia co-founder said on Thursday he was stepping down as a full-time operator, more than a decade after founding the online marketplace for homestays.

Mr Gebbia said he intended to explore other projects but would continue to serve on the board of Airbnb and Airbnb.orgthe company’s nonprofit foundation.

He will also take on a new role as an advisor to Airbnb, supporting fellow co-founders Brian Chesky. and Nathan Blecharczyk on “the roadmap, future concepts and [Airbnb’s] creative culture”.

“After careful consideration, I have decided to step back from my full-time operations role at Airbnb,” he said in a statement. letter to employees.

“The main reason for this transition is that it’s the only company I’ve ever helped create, and my brain is brimming with ideas to bring to the world.”

Mr Gebbia said he was quitting to focus on being a father. He said he would also be involved in other projects, including “a complementary product to Airbnb, making documentary films and various philanthropic initiatives”.

Airbnb was founded when Mr. Gebbia and Mr. Chesky, his roommate and former classmate at the Rhode Island School of Design, welcomed three guests into their San Francisco home in 2007. It has since grown to more than four million of hosts that have hosted over a billion guest arrivals in almost every country in the world.

As of March 31, there were six million active Airbnb listings covering 100,000 cities and towns around the world.

In February, Airbnb said its 2021 bookings jumped 56% annually to nearly 301 million.

The San Francisco-based company, which went public in December 2020, owns no real estate but acts as a broker, earning a commission on each booking.

Originally called “AirBed & Breakfast”, the start-up joined the Winter 2009 Y Combinator cohort that funded the fuel expansion.

In April 2020, he secured $2 billion in debt and equity from private equity firms such as Silver Lake, Apollo Global Management and Sixth Street Partners to bolster his finances.

In April, Airbnb announced that it would allow its employees to work from anywhere permanent, with the aim of further improving flexibility.

Updated: July 21, 2022, 8:07 p.m.

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