Airbnb pledges pre-IPO commitment to stakeholders
US: Airbnb has announced its intention to publish annual reports for its stakeholders in addition to financial reports, after stating its commitment to creating positive good as part of its mission to be a successful business.
These will serve as an internal judgement to how Airbnb identifies what it believes to be its three major stakeholders – the company, its guests and host, and the world outside the platform.
The take is a response to a recommendation by the Business Roundtable that modern businesses reconsider what creates company value- putting emphasis on stakeholders, such as employees and community, rather than shareholders. This is all in the lead up to the company’s future IPO, planned for later this year.
Airbnb’s lax relationship with its communities has come under criticism, with locals decrying rising rent prices and the rise of disruptive properties in their neighbourhoods. The company is attempting to get its image under control with bans on ‘party houses,’ and cooperative programmes with government forces, such as police.
The New York Times reported Airbnb CEO Brian Chesky saying: “I don’t want to be one of those CEOs to say we’re trying to do all this great stuff, but then we treat board meetings exactly like every other board meeting.”
He further claimed that Airbnb was also following the curve of the business world rather than making a radical change.
For Chesky, this shift is a key part of creating an enduring and successful business in the modern age- especially for one which focuses on sharing and collaboration. However, there is, as of yet, no guarantee of either success or of longevity for his vision.
