July 20, 2017

Airbnb Settles Lawsuit With Its Hometown, San Francisco



Stock Photo - Waving flag with Airbnb logo. Editorial 3D rendering
Copyright: moovstock / 123RF Stock Photo

SAN FRANCISCO — Airbnb agreed on Monday to settle a lawsuit against the city of San Francisco , putting to rest litigation that could have hampered the company’s efforts to expand and go public.

In the settlement, Airbnb essentially agreed to San Francisco’s demand to be more transparent about its hosts and to help enforce existing registration laws. It followed the company’s dropping of a lawsuit in December over a New York law that fines people who illegally list their homes on short-term rental platforms. Taken together, the actions mean Airbnb has cleared up outstanding litigation in two of its biggest markets in the United States.

The latest settlement removes a regulatory cloud over the company as it readies itself for a public offering, even though Airbnb, which is based in San Francisco and has a valuation of about $30 billion, still faces legal disputes in a handful of markets. The company’s chief executive, Brian Chesky, said this year that the company could be ready to go public in a year.

Arun Sundararajan, a professor at New York University’s Stern School of Business who studies the so-called sharing economy, said, “As Airbnb gears up to go public over the next couple of […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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