According to people familiar with the situation, Airbnb has reportedly closed a deal worth somewhat less than $200 million for its first purchase as a publicly traded firm. Gameplanner is the acquisition’s target.AI is a startup that has been secretive since its founding in 2020. Stealth mode startups frequently decide to remain hidden from the public view in order to protect their intellectual property or to minimize distractions.
Strategizer.AI, which was co-founded by Adam Cheyer, a significant contributor to the creation of Siri, will be essential to the advancement of Airbnb’s AI initiatives. Notable for his collaboration with Steve Jobs during Apple’s acquisition of Siri, Cheyer went on to co-found Viv Labs, which laid the foundation for Samsung’s voice assistant.
The CEO of Airbnb, Brian Chesky, has shared his vision for using generative AI to revolutionize the site and turn it into a personalized “travel concierge” that improves travelers’ trip experiences by learning from them over time. Features like the ability to match customers with the best houses or rooms depending on their preferences may fall under this category.
Given that this is Airbnb’s first purchase since 2019, Wall Street is speculating about a possible change in Chesky’s approach to mergers and acquisitions (M&A). Given the company’s profitability under generally accepted accounting principles (GAAP) and its significant $11 billion in cash and liquid assets as of September’s end, the move would make Airbnb seem like a more alluring acquisition.
It’s interesting to note that the announcement of Airbnb’s acquisition coincides with rumors indicating that Google is reportedly in talks to invest hundreds of millions in Character, another AI firm.AI. The business, estimated at $1 billion following an Andreessen Horowitz-led fundraising round in March, enables users to create virtual characters or have discussions with AI avatars of well-known individuals, such as Albert Einstein or Elon Musk. These developments highlight how technology and the travel industry are increasingly interacting, with big firms putting themselves in a strategic position to take advantage of AI’s promise for improved consumer experiences.
