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Airbnb is targeting China after seeing outbound travel grow 700 per cent in the Chinese market over the past year.
The San-Francisco based home-sharing site has confirmed deals with two strategic partners – China Broadband Capital (CBC) and Sequoia China – to help it develop a presence in the country. One of the first tasks will be to recruit a CEO for Airbnb China.
The growth achieved by Airbnb in China has made it the company’s biggest growing outbound market.
“When we see this growth and hear the stories from our community, it's clear that Airbnb is uniquely positioned to connect Chinese guests to amazing travel experiences," Brian Chesky, co-founder and CEO said in a blog post this week.
"And as we move into our next phase of expansion in China, we know we will need deep local knowledge and expertise to keep this momentum going."
In addition to Sequoia China and CBC, Airbnb is working with a larger group of investors to help growth and collaboration within China.