Airbnb, in its maiden acquisition as a public company, has reportedly sealed a deal valued at just under $200 million, according to sources familiar with the matter. The target of this acquisition is Gameplanner.AI, a startup that has been operating in stealth mode since its inception in 2020. Startups in stealth mode often choose to stay out of the public eye to safeguard intellectual property or avoid distractions.
Gameplanner.AI, co-founded by Adam Cheyer, a key figure in the development of Siri, will play a crucial role in advancing Airbnb’s artificial intelligence (AI) projects. Cheyer, known for his work alongside Steve Jobs during Siri’s acquisition by Apple, later co-founded Viv Labs, laying the groundwork for Samsung’s voice assistant.
Brian Chesky, Airbnb’s CEO, has expressed a vision of leveraging generative AI to revolutionize the platform, transforming it into a personalized “travel concierge” that learns from users over time, enhancing their travel experiences. This could involve features such as matching users with the most suitable rooms or homes based on their preferences.
This marks Airbnb’s first acquisition since 2019, prompting speculation on Wall Street about a potential shift in Chesky’s mergers and acquisitions (M&A) strategy. The move may position Airbnb as a more enticing acquisition, especially considering the company’s profitability on a Generally Accepted Accounting Principles (GAAP) basis and its substantial $11 billion in cash and liquid assets as of September’s end.
Interestingly, Airbnb’s acquisition news aligns with reports suggesting that Google is in discussions to invest hundreds of millions in another AI startup, Character.AI. The startup, valued at $1 billion after a March funding round led by Andreessen Horowitz, allows users to create virtual characters or engage in conversations with AI versions of notable personalities like Elon Musk or Albert Einstein. These developments underscore the accelerating intersection of technology and the travel industry, with major players strategically positioning themselves to harness the potential of AI for enhanced user experiences.
