Airbnb announced on Thursday that airline industry veteran Fred Reid has joined the company as global head of transportation to lead an intensive push into transportation.
“We’re going to explore a broad range of ideas and partnerships that can make transportation better. We haven’t settled on exactly what those will look like,” Airbnb CEO Brian Chesky said in a statement.
Back in 2016, Bloomberg reported that Airbnb was developing an air travel booking service, called Flights, which would put it in direct competition with companies like Priceline and Expedia for more of the online travel spending pie. The platform was reportedly due to launch about 18 months later, prior to an initial public offering. Just over two years later, there’s been no word about Flights and an IPO date has not been confirmed. However, Reid joining the company appears to solidify its push into travel.
An Airbnb spokesperson told Cheddar Arbnb wasn’t ruling out an option to book a plane ticket, but emphasized that Reid’s transportation effort will be about much more than just providing a way to buy a ticket.
“I’m not interested in building our own airline or creating just another place on the Internet where you can buy a plane ticket, but there is a tremendous opportunity to improve the transportation experience for everyone,” Chesky said.
Prior to joining Airbnb in January, Reid served in executive roles at Virgin America, Lufthansa German Airlines, Flexjet, and Delta Airlines, where he led the formation of SkyTeam alliance. In his last role as president of Cora Aircraft Program, a division of Kitty Hawk, he oversaw the development of an autonomous electric vertical takeoff and landing aircraft.
Reid’s experience and connections within the industry will be key as Airbnb gets serious about fleshing out its transportation offerings, and forging partnerships that, in Reid’s words, “make travel easier and even fun.”
“Airbnb and its incredible global community have revolutionized where you stay and what you can do when you travel,” Reid said in a statement. “I’m excited to work with them to tackle the third part of the travel experience: how you get there.”
Bitcoin is still struggling to hold $47,000 and is well off from the near $68,000 high it saw in November. As the Federal Open Market Committee wraps up its two-day monetary policy meeting, some crypto investors are worried as they wait for news on policy. Shiv Madan, CEO of Moonwalk joins Cheddar News to discuss what's in store for the industry.
After becoming the must-have app in 2020, TikTok continues to be a dominant force in the music industry. According to TikTok's 2021 music report, 430 songs exceeded 1 billion video views on the platform this year, three times as many songs as last year. TikTok's music editorial lead, William Gruger, joined Cheddar News to discuss.
Over the past decade, the resale market has completely transformed, allowing people to utilize platforms such as Etsy, Poshmark, eBay, and more to create a lucrative business from the comfort of their homes. However, as the space of secondhand sellers and thrifters gets more and more crowded, small businesses are facing bigger obstacles to not only thrive in the market but also survive. Yvette Liebesman, a law professor at Saint Louis, joins Cheddar News to discuss.
A new report from CNBC says Instagram recently reached a new milestone -- 2 billion monthly active users. It comes amid a year of controversy for the photo-sharing app and its parent company, Meta. SocialFlow CEO Jim Anderson joins Cheddar News' Closing Bell to discuss.
MotorTrend named the Rivian R1T as the 2022 truck of the year - a prestigious title given by the publication as a way for automakers to tout third-party validation. Rivian beat out traditional, legacy truck favorites like Ford and General Motors.
MotorTrend said the company earned high marks for safety, efficiency, value, advanced design, engineering excellence, and performance of intended function. MotorTend head of editorial Ed Loh joins Cheddar News' Closing Bell to discuss.
There is a new way for investors to bet on cannabis - the AdvisorShares Poseidon Dynamic Cannabis ETF targets about 20 of the biggest names in U.S. cannabis. It comes at a time when it's still difficult for investors to access the space. Cheddar News cannabis reporter Chloe Aiello spoke with co-founder and managing director for Poseidon Investment Management, Emily Paxhia.
