Airbnb launches redesigned app, new services business

Airbnb launched a redesigned app on Tuesday to showcase the company's push to let travelers book services, like catering and personal training, at their home rentals. The new-look app marks a new chapter for Airbnb to expand beyond home stays. The company has previously announced plans to invest $200 million to $250 million in a new business that it said it hopes will become a significant driver of future revenue growth. "We now feel like we have such a strong foundation that we are capable of building and expanding," Dave Stephenson, Airbnb's business chief, told CNBC. The company has previously tried to push beyond home rentals, but dialed back those efforts in 2020 to focus on its core business as the Covid pandemic shuttered borders and pummeled the travel industry. Airbnb shares fell earlier this month after the company issued disappointing revenue guidance in its first-quarter earnings report, saying it saw some "softness" in travel from Canada to the U.S. toward the end of t ... Read full article.