Airbnb

Airbnb, widely recognized as a pioneering online community marketplace for accommodations, also engages in strategic corporate investments rather than operating as a traditional venture capital firm. These investments are integral to their corporate development strategy, focusing on companies that align with or expand their core hospitality and travel ecosystem. Unlike typical VCs, Airbnb's investment activity is less about building a diverse portfolio for financial returns and more about fostering strategic partnerships, integrating new services, or expanding into adjacent markets.

Their investment focus is primarily on growth-stage companies that offer complementary services or innovative models within the broader travel and living space. A notable example of their strategic investment approach is their participation in the flexible housing sector. In 2019, Airbnb led a significant $50 million Series B funding round for Zeus Living, a company specializing in furnished corporate housing. This move underscored their interest in diversifying beyond short-term rentals into longer-stay accommodations.

Further demonstrating this strategic intent, Airbnb also participated in a $160 million Series B round for Lyric, another flexible stay provider, in the same year. Moreover, they made a substantial strategic investment in OYO, an Indian hospitality chain, as part of its massive $1 billion Series E funding round in 2019, aiming to strengthen their presence in key international markets. These investments highlight Airbnb's preference for later-stage companies that have already achieved significant traction and offer clear strategic synergies, with typical check sizes reflecting these larger, growth-oriented rounds.