Airbnb Barbados search returns over 200 rentals! Click photo for larger
If I had mentioned the name Airbnb a few months ago, I wonder, hand-on-heart, how many people could claim that they knew much about the company.
Perhaps hardly surprisingly, as not that long ago it sold novelty cereal boxes to stay afloat to now emerge as a major threat to the hotel industry and ‘close to becoming one of the world’s most valuable startups’.
If quoted plans materialise, private-equity firm TPG and boutique investment advisors, Dragoneer Investment Group, who are already in advanced talks will raise capital to put a value on what has been described as ‘the upstart home-rental site’ of US$10 billion.
Mutual funds are being sourced through the strategic research platforms of entities including T Rowe Price Group and Fidelity and are also in discussion to join the group.
To put that it context, the combined share worth of Airbnb would equate to US$2 billion more than the entire InterContinental hotel chain. Continue reading