An announcement was made by Airbnb regarding the acquisition of Urbandoor, which is a platform that provides long stays to business clients. The main reason behind the acquisition was the outstanding services of Urbandoor as it wasn’t only focused on corporate travelers but, also negotiates with multifamily owners directly instead of renters.
In simpler word, instead of any renters, Urbandoor directly went to giant real estate firms such as Greystar to convince their building owner for the extended stay rentals.
With this achievement, Airbnb is interested in increasing its supply on the Airbnb for the business’s work side which continues to grow at a speedy pace. The corporate side of the Airbnb covers 15 percent of all the bookings on the platform, and since 2015 till 2017 has grown tremendously to almost triple its size According to the firm, 500 thousand firms make use of the service to plan their business travel.
Even though apparently there is a huge demand for Airbnb properties from business clients, an issue of supply still remains. Urbandoor will be helping to increase that inventory on the supply side. The footprint of Urbandoor is inclusive of apartment communities in over fifteen-hundred cities across more than 60 countries worldwide.
Jollychic, which is a Chinese e-commerce platform has raised USD 65 million which is equivalent to 53 million pounds in a Series C round, as it carries on focusing on its MENA customer base.
Following closely after the announcement comes the news that Jollychic will be launching an online payment platform in the United Arab Emirates. Jollypay, the online payment platform, has been issued a license to conduct online payment in the UAE, becoming the first amongst foreign firms to have a license of this type in the United Arab Emirates.