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.”
Attack surface management startup CyCognito recently raised $100 million in its latest funding round, valuing the company at $800 million. CyCognito offers cyber security through its attack surface scanner, which uses artificial intelligence to identify weak spots in an organization's network. The new funding comes as companies around the world continue to add new defenses to the growing rise of cyber threats and attacks. CyCognito co-founder and CEO Rob Gurzeev joins Cheddar News' Closing Bell to discuss.
Adam Mosseri, head of Instagram, faced withering questions on Capitol Hill about the reports the social media app was aware of the severe mental health impacts it was having on teenage girls. Karen Kornbluh, the director of digital innovation and democracy for the German Marshall Fund, joined Cheddar to discuss the rare show of bipartisan outrage on display at the Senate hearing. "The senators came really loaded for bear on both sides of the aisle," she said. Kornbluh explained how senators like Richard Blumenthal (D-Conn.) set up fake Instagram accounts with teen girl profiles in order to research the effects firsthand.
A mental health crisis among young people is looming, and a large part of it is online. Cheddar News speaks with digital policy expert Karen Kornbluh on the issue.
Roshan Jhunja, head of retail at Square, joined Cheddar to talk about the financial services company's second annual Future of Retail report. Square expects the massive shift to e-commerce to continue into 2022 as more consumers get used to the online shopping experience. For Square, soon-to-be renamed Block, which began predominantly as a digital payment platform, Jhunja said the company is also helping sellers with automation amid ongoing labor shortages.
Facebook is undergoing more than a name change. The company, now known as Meta, has also seen an exodus of executives this year. While the timing of some of these resignations came before whistleblower allegations, it's undeniable the tech giant is undergoing big changes. Doug Astrop, Managing Partner at Exponential Investment Partners, joins Cheddar News' Closing Bell to discuss Facebook's current state, possible regulatory scrutiny, the impact of Instagram chief Adam Mosseri's Congressional testimony, and more.
Fast AF, a premiere quick commerce retailer for products and brands just announced the close of its Series A investment round. That round puts the value of the company at $200 million. The company gets items to customers ranging from masks to sneakers and is now launching its own in-house delivery service. Lee Hnetinka, founder and CEO of FastAF joins Cheddar News to discuss the announcement.
Carolina Navas, Snap's head of AR product strategy and product marketing, joins Cheddar News to discuss how Snapchat's augmented reality is changing the shopping game this holiday season.
Instagram Chief Executive Adam Mosseri is set to testify before Congress for the first time. Mosseri’s appearance follows reports that showed Facebook and Instagram are aware of the harms their apps and services cause, including to teen mental health. Nicole Gill, co-founder and executive director of Accountable Tech joins Cheddar News to preview the hearing.
Steve Case, Revolution Ventures CEO, joined Cheddar to discuss progress venture capitalists have made over 2021 and where investors are looking beyond Silicon Valley. Other locations VC firms are exploring include Los Angeles, Philadelphia, and Chicago among others. "Historically there's been a brain drain in a lot of these cities, people leaving for opportunity elsewhere. Now, people are staying," he said of the emerging tech hubs. "There tends to be a collaborative effort in the community to really support startups to recognize the future of the community."