Airbnb said it would suspend all operations in Russia and Belarus after the invasion of neighboring Ukraine last week.
Russia currently has 90,000 active short-term rentals available on Airbnb, according to market research firm AirDNA.
Brian Chesky, chief executive and founder of the company, said earlier this week that the company would house 100,000 Ukrainians forced to flee their homes due to fighting, adding that it would waive all booking fees in the country.
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Mr Chesky said “everything is on the table” in response to Russian aggression against Ukraine.
Separately, Airbnb users have started booking rentals in Ukraine as a form of financial support for the country’s beleaguered citizens – despite having no plans to travel there.
Australian Kate Hutchinson wrote on Twitter: “Feeling helpless, I booked an @Airbnb in Kyiv for a stay this week knowing the money would go straight to someone there.”
Dozens of other users posted their booking confirmations on social media, encouraging others to rent Airbnbs to provide direct financial assistance to families in Ukraine.
Companies rush to cut ties with Russia
Airbnb, which went public in December 2020 with a market capitalization of $86.5 billion, is the latest in a long line of companies that cut ties with Russia last week.
Yesterday, Swedish furniture titan Ikea has announced that it will close all its stores in Russiaand stop sourcing materials from Russia and Belarus.
One day earlier, another Swedish retail giant, H&Mand British online fashion retailer ASOS has suspended sales in Russia.
They joined Apple, M&S, Burberry, Boohoo, Netflix, Mercedes-Benz Group, Ford and BMW, all of which suspended business operations in Russia following its invasion of Ukraine.
Film studios Warner Brothers, Disney and Sony also pulled great movies from Russia, including Marvel’s new Batman and Moribus movie.
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