Airbnb reveals first redesign in over a decade

Yahoo Finance Live anchors discuss Airbnb's business model heading into the summer travel season.

Video Transcript

- So guys, I want to bring you in on this. In terms of what Airbnb is doing, with these categories, especially, I really like that. I like that idea. He was saying that there's only a few places usually that we tend to think of when we travel. By breaking it down into categories, it really just opens up the entire world of different cities that you probably have never even looked at.

- Well, absolutely, Rochelle. When we think about, of course, where Airbnb-- where a lot of the business has been coming from, the company just reported last week that long term stays are really the fastest growing portion of the business. Those are visits that take place over at least 28 days or more. They reached an all time high in the first quarter and more than doubled compared to the first quarter of 2019.

So really just expanding the amount of categories that travelers can look towards for these longer term stays is really just focusing on that particular growth area of the company. So I do think it's going to be really interesting to see how consumers respond to this, especially heading into what's likely to be a very hot summer travel season. Right, Dave?

- Yeah, indeed it is. I'm curious as thoughts on productivity, if everyone is working from home in the future. But as much as I intended to talk about the OMG category, or the work from home environment coming, what really inspired me there, Rochelle, was when he said a couple of things about the company. He said the best companies are born out of crisis, and that is something we all, as individuals and as business leaders out there watching, can relate to.

They believe that crisis will make them better. And he also said, we are stepping on the gas here. We are not going to make decisions based on our stock price. We are a stronger company than we've ever been before, and we're going to make decisions based on our metrics, what we see internally. It was really insightful. It was really inspiring about how this business leader works, that he was not going to be controlled by the shareholders. I thought it was a really inspiring conversation, Rochelle.

- It really was. And when you think of the tweet that he said about, look, this current environment feels a lot like 2008-- when you think of the number of startups that came out of the last financial crisis. I mean, he certainly has a point. He said this moment feels similar to late 2008 when we started Airbnb. So who's going to know, out of this current situation, where the next wave of new startups could-- I think it'll be exciting to see.

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