Airbnb is closing its accommodation listings and services in China, CNBC reported on Monday, citing people familiar with the matter. The US home rental giant is instead choosing to focus on outbound Chinese tourism after operating in the country for six years, according to the report. China’s tourism services, including home rental platforms like Airbnb and travel booking sites such as Trip, are reeling from the impact of the country’s stringent Covid prevention measures and multiple lockdowns. Fierce competition from local rivals such as Tujia and Xiaozhu are also contributing factors in Airbnb’s retreat from China. The company’s withdrawal marks another significant retreat of a US tech giant from China, following in the footsteps of Linkedin, Amazon, and Google. [CNBC]
Airbnb will facilitate the migration of Chinese hosts to several rival platforms before its withdrawal from the Chinese market, according to a statement the company released on Friday. Airbnb hosts in China are being given the opportunity to transfer their data such as housing information and review history to platforms including Meituan Homestay, Xiaozhu/Fliggy, and […]
Airbnb sailed off course before landing its beachhead in China.
Amazon said on Thursday that it will shut down its Kindle e-bookstore services in China by June 2023, citing an adjustment of strategic focus as the reason for the move. Kindle users will be able to download any purchased books before the service makes a full withdrawal next year, according to a company statement. Amazon […]
China’s home rental market is expected to be worth RMB 50 billion ($7.2 billion) by 2020.
The organization behind Airbnb and Reddit cited a change in leadership.
Nearly a quarter of China-founded VCs make the Hurun Global VCs list. Some 25 China-founded venture capital funds made it to the Hurun Global Venture Capitalists 2022 Half-Year Report released on Tuesday, which selected 121 VCs that have captured the largest number of unicorns and gazelles in their portfolios. (A gazelle company is a fast-growing […]
Lawmakers in Taiwan started looking into ways to legalize short-term rental services for some time now–but this is hardly good news for Airbnb, who is in the crosshairs of government scrutiny.
Airbnb hosts with a listing in China were notified by Airbnb China by email that their information could be shared with Chinese government agencies without further notice starting from 30 March 2018. Airbnb China explained that this was necessary for complying with local laws and regulations. A big “deactivate my China listing” button was included […]
The policy is the first of its kind in China.