Technology
Tuesday, November 14th, 2023 4:59 pm EDT
Key Points
- Airbnb’s First Acquisition Post-IPO: Airbnb has completed its first acquisition as a public company, acquiring Gameplanner.AI in a deal valued at nearly $200 million. This move signifies Airbnb’s strategic interest in advancing its capabilities through artificial intelligence (AI) technology.
- Stealth Mode Startup Accelerating AI Projects: Gameplanner.AI, a startup that has been operating in “stealth mode” since its establishment in 2020, will play a role in expediting Airbnb’s AI initiatives. Startups in stealth mode often operate confidentially to protect intellectual property and minimize external distractions.
- Generative AI for Enhanced User Experiences: Airbnb’s CEO, Brian Chesky, envisions leveraging generative AI to transform the platform into a “travel concierge.” This involves AI learning about users over time and enhancing their travel experiences, such as matching them with suitable rooms or homes. The acquisition aligns with Chesky’s vision of utilizing AI to revolutionize Airbnb’s services.
Airbnb has completed its first acquisition as a public company with the purchase of Gameplanner.AI, a startup valued at nearly $200 million. Gameplanner.AI, which has been in “stealth mode” since its founding in 2020, is set to accelerate Airbnb’s artificial intelligence (AI) projects. Co-founded by Adam Cheyer, one of the creators of Siri, the startup will contribute to Airbnb’s vision of leveraging generative AI to enhance user experiences on its platform, potentially serving as a “travel concierge.” This marks Airbnb’s first acquisition since 2019 and raises questions about the company’s evolving M&A strategy, making it potentially more appealing to investors. Airbnb, which is profitable on a GAAP basis, holds $11 billion in cash and liquid assets as of September. The acquisition follows reports of Google considering a significant investment in another AI startup, Character.AI, known for creating virtual characters and AI versions of celebrities.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/11/14/airbnb-acquires-ai-startup-for-just-under-200-million.html
