Close to a decade since its foundation and $4.4 billion in funding later, Airbnb is one of the genuinely disruptive brands in the travel industry.
Not only has it changed the way travellers think about accommodation but it has ruffled the feathers of regulators and ignited plenty of soul-searching across the wider hospitality sector.
To join its eye-watering valuation of somewhere in the region of $31 billion is the knowledge that Airbnb now has more room supply than the five leading hotel chains combined.
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Many industry watchers consider Airbnb to be at some sort of crossroad, whether it's via the widely tipped public listing or expansion into new services... or both.
Examining the company's history and possible steps going forward is a new report from Phocuswright.
Airbnb: A Look Back and a Look Ahead, written by Cathy Walsh, analyses the key developments so far, its acquisition strategy, partnerships and what's next.
The report is is FREE for existing Phocuswright Innovation Subscribers (learn about how to become one here).