Technology stack behind Airbnb!
Airbnb is considered by many as one of the pioneers of creating the Freelance rental marketplace. Founded on August 1st, 2008, in a short span of time it grew rapidly and firmly established itself as one of the juggernauts in this segment.Â
AirBnB believes in defining the following three segments for their success Â
Tourists Basically, they are the people who book the listed available places from the hosts residing there They will have the option to search for any property in any location suitable to their needs, their budget limit, and the locality Tourists can book the places by paying through the Airbnb portal
The Hosts Generally, hosts are the people who are the actual owners of the property and decide to rent out their available space They are allowed to create a listing for their property and are also encouraged to set their own rent, lay out the check-in time and check out time. Hosts have the full freedom to cancel or accept the booking after going through his social profile and reading his reviews.
Photographers Airbnb has hired a large number of Freelance photographers in all the major cities Their main role is to go to the mentioned location and click high-definition pictures of the surroundings and the property. Their high-quality pictures will definitely get a lot of responses for which they will be rewarded by Airbnb directly.
AirBnB’s process summarization
At first, hosts will list out their property details in the Airbnb portal and also provide other details like pricing and amenities etc, Airbnb will send their professional photographer to the property located in order to take high-quality pictures. Tourists/Travelers search for the property where they wish to stay and browse the options available to them such as the price factor etc.
Cont... Booking is confirmed only after the traveler pays the amount mentioned by the host
After the Host approves the booking, the traveler will stay there and then Airbnb will pay the amount to the host after deducting their commission..
Revenue Model of Airbnb Commission from Hosts Airbnb charges 10% commission from the host upon every booking done through the platform.
Transaction fee from Travelers Airbnb charges 3% of the booking amount as transaction charges on traveler’s every confirmed booking.
Final Thoughts Airbnb has seen a huge success in terms of the market placings. It has already become a multi-dollar billion company and is set to grow further. Having nailed their presence in more than 190 countries, they are still focussing on expanding further.
Shared by: Agriya's Burrow - Industry Leading Vacation Rental Marketplace Originally shared @Â https://mark-chainberg.livejournal.com/453.html