Airbnb In The News: $10B Valuation & Apartment Rental Turned Sour (Or Actually Sex Party)

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There has been two rather interesting news pieces about the Airbnb this week: the recent fund drive hat values the company at $10 billion and ransacked apartment in New York.

Airbnb

The case with the ransacked apartment is more interesting than the fund drive and goes to the heart of this “sharing” economy. Can you really and I mean REALLY trust your home to someone for the weekend at few hundred bucks per night?

It turns out that in this New York case the man that had rented the apartment was using it for a pay for play sex party. The apartment was partly destroyed.

You can read more about this incident on New York Daily News website here.

Now, when I was watching the Bloomberg News, they had a piece that the new $400 million fund raising values the company at $10 billion dollars. This would be more than the current market cap of Hyatt or IHG.

You can read more about this on New York Times website here.

Conclusion

I really wanted to try the Airbnb out during the offer they had back in January, but I never managed to get my ID verified. Well. I really think that I am better off by just staying at the hotels and leaving the Airbnb for others.

The valuation of these tech start ups is starting to resemble the internet bubble back in the late  1990’s.

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