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.”
Alternative asset, sports cards-focused platform Alt recently raised $75 million in a Series B round. Alt's platform lets users research, trade, and securely store sports cards and other high-value assets. Right now, the company has more than $70 million worth of cards in its vault. The company is also hoping to get into other assets, including NFTs. Alt CEO Leore Avidar joins Cheddar News' Closing Bell to discuss.
Bitcoin ticked higher Friday but still hit a one-month low amid a broader crypto slump. Investors are eyeing the potential liquidation of payments from collapsed exchange Mt. Gox, alongside the recent debut of three Bitcoin-linked futures ETFs as the SEC continues to avoid approving spot product ETFs. Steve Larsen, Co-Founder of PlannerDAO, joins Cheddar News' Closing Bell to discuss the broader crypto slump, why Mt. Gox is a concern, and more.
Wedbush Securities has raised its price target for Tesla stock to $1,400, among the highest on Wall Street. Analysts are pointing to an incoming green tidal wave as the main reason for their optimism, with President Biden's infrastructure bill expected to kick off a new era for electric vehicles in the U.S. Dan Ives, managing director of equity research at Wedbush Securities, joins Cheddar News' Closing Bell, where he explains why he's so bullish on Tesla even as competition from companies like Rivian heats up.
Streaming platform Roku announced plans to develop more than 50 original shows in a bid to become a destination for free content amid growing competition in the space. Shelly Kramer, co-founder and lead analyst at Futurum Research, spoke to Cheddar about the new offering "The transition here from hardware to adding a software component by way of original content, I think is smart," she said. "And it's all about the Benjamins." Kramer also noted that she doesn't necessarily think Roku is entering the content game too late.
The behind-the-scenes story of HBO's history is chronicled in the new book 'Tinderbox: HBO's Ruthless Pursuit of New Frontiers.' The book tells the true story of how HBO came to dominate the television industry as we know it. The man behind the book has interviewed over 700 key sources to uncover a bottomless trove of secrets, surprises, and never before heard stories. James Andrew Miller joins Cheddar News to share more.
As the world of trading in cryptocurrency gets more popular experts say competition in the space could get bigger within the next year. CEO of Onramp Invest Tyrone Ross, joined Cheddar to discuss more.
