Airbnb in Talks to Buy China Rival Xiaozhu; Deal would give San Francisco boost in its effort to expand in China
Airbnb is a San Fransisco startup company that is looking to expand to China. China currently has a company that has mimicked what Airbnb does here in the states, called Xiaozhu, which is there largest competitors in china. China has been hard for companies to expand to due to much competition of homegrown imitators. Airbnb currently only has about 75000 home listing being offered and it is pushing to have over 100000 by the end of the year and 300000 within 2 years. China already has a major player in the home rental game, Tuigia which is worth in upwards of $1billion based out of Beijing. Airbnb is also finding other ways to boost revenue streams and before deciding to go public. Currently the company is worth roughly $30billion. This discussion of the price has not been released but talks of the purchase was reported by the Bloomberg News.