You know you’ve made it when you’re verb material. Google it. I’ll Uber there. Let me just Venmo you. With over 2 billion guest arrivals since its inception, Airbnb, the travel company that upended the very idea of a hotel, has been approaching verb status for some time. It’s a rarefied and lucrative territory that just about any major company is (at least privately) angling towards. And maybe that’s why last month’s debut of Airbnb’s next chapter put verb ambitions front and center, proclaiming: “Now you can Airbnb more than an Airbnb.” Or, as CEO Brian Chesky put it: “Basically, it’s the Airbnb of anything.” The company unveiled a spate of new features that, indeed, majorly expand the company’s potential reach, branching out from homes and apartments to experiences and services. It’s all been a long time in the making, CFO Ellie Mertz told CFO Brew. “If you think about our history, we have talked about what we call ‘expanding beyond the core’ for some time,” she explained, adding that the company started to do so before the pandemic, which swiftly recalibrated everything as travel screeched to a halt. Now, the company is ready to focus on a new era of travel again. “What we’ve done the last couple of years is continue to focus on that core business, make sure that we recovered well, and were in a stronger position exiting the pandemic versus how we entered it,” Mertz noted. The company spent the same period of time “retooling” its infrastructure and tech stack to make the innovations possible. Read more on CFO Brew.—NP |