Late yesterday Airbnb closed on its acquisition of Tilt, a fintech startup for crowdfunding and peer-to-peer payments. Last week, it bought Canadian company Luxury Rentals and its portfolio of high-end properties.
Those deals, along with Airbnb’s recent foray into travel experiences with the launch of tour service Trips, point to the company’s broadening ambitions. No longer content to offer accommodation alone, Airbnb is evolving into a full-fledged travel platform.
Will the acquisitions continue? Certainly Airbnb has the cash to make deals happen, projecting annual profits of $3 billion by 2020. We expect CEO Brian Chesky to be opportunistic about deals, while continuing to build new product features in-house.