AirBnb acquires an AI company
Airbnb has acquired an AI startup called Gameplanner AI for just under $200 million in its first acquisition as a public company.
What’s going on here?
Airbnb's acquisition of Gameplanner AI signals the company's increased focus on leveraging AI to enhance the user experience.
What does this mean?
Gameplanner AI was founded in 2020 by Adam Cheyer, a Siri co-founder, and has been operating in stealth mode. The deal valued the startup at close to $200 million. The acquisition will accelerate some of Airbnb's AI projects, likely around using AI as a personalized travel concierge that learns users' preferences.
This acquisition aligns with CEO Brian Chesky's vision to incorporate AI that acts as a virtual assistant enhancing Airbnb experiences. The deal is Airbnb's first acquisition since 2019 and may generate interest on Wall Street regarding potential shifts in the company's M&A strategy.
Why should I care?
Generative AI is creeping into (for good) every big company. Chesky is extremely bullish on the future of the tech, saying AI could better match customers with their perfect rentals. AirBnB recently launched an AI-powered photo tour tool that helps hosts sort their listing images. Expect more such tools to come to the platform soon.