Airbnb Inc. (NASDAQ: ABNB)

Airbnb is the world's largest online marketplace for short-term rentals and travel experiences, with over 7 million active listings in 220+ countries. The platform connects hosts who rent out homes, apartments, and unique spaces with travelers looking for alternatives to hotels. Brian Chesky, Joe Gebbia, and Nathan Blecharczyk founded the company in 2008 after renting air mattresses in their San Francisco apartment to conference attendees.

Airbnb charges a service fee on each booking u2014 typically 3% from hosts and 14-16% from guests. The company doesn't own any properties; it's a pure marketplace. This asset-light model generates operating margins above 20% and significant free cash flow. Gross booking value exceeds $75 billion annually. The company has been expanding into Experiences and longer-term stays.

Chesky and Gebbia rented air mattresses during a 2007 San Francisco design conference u2014 hence "Air Bed and Breakfast." The company was rejected by multiple VCs before Y Combinator accepted them in 2009. Airbnb famously sold custom cereal boxes ("Obama O's" and "Cap'n McCain's") to fund early operations. IPO in December 2020 at $68 per share u2014 the stock doubled on day one. The company survived COVID by cutting 25% of staff and refocusing on long-term stays.