Airbnb (ABNB) stock surged as much as 15% on Friday following better than expected quarterly results and plans to expand the vacation platform into an app for everything related to travel and living.
“We want the Airbnb app, kind of similar to Amazon, to be one place you go for all of your traveling and living needs,” said Chesky during Thursday’s earnings call. “A place to stay is just really, frankly, a very small part of the overall equation.”
Airbnb plans to spend $200 million – $250 million on launched new businesses for the next four or five years.
“We’re going to start initially with things very closely adjacent to travel,” said Chesky.
Management cited “continued strong demand” for the first three months of the year following a robust holiday season last quarter.
The company’s revenue and gross bookings came in above Wall Street expectations for the last three months of 2024.
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