Airbnb's First Acquisition as a Public Company: AI Startup Gameplanner.AI

Airbnb has recently purchased Gameplanner.AI, its first acquisition since becoming a public company. According to sources familiar with the deal, the startup was bought for just under $200 million.

The Stealth Startup Gameplanner.AI

Gameplanner.AI, a startup focused on artificial intelligence (AI), was founded in 2020 and has been operating in stealth mode, a term that refers to startups that work out of the public eye to protect their intellectual property or avoid distractions. The founder of Gameplanner.AI, Adam Cheyer, has a notable track record in the tech industry that includes being one of the co-founders of Siri, later acquired by Apple.

Future of Airbnb’s AI Projects

This acquisition is expected to expedite some of Airbnb’s AI projects. Airbnb CEO Brian Chesky has previously spoken about his vision for generative AI to revolutionize the platform by acting as a “travel concierge” that learns users’ preferences over time and enhances their travel experiences, such as matching users with suitable rooms or homes.

A Potential Shift in Airbnb’s M&A Strategy

This deal represents Airbnb’s first acquisition since 2019, which might indicate a shift in Chesky’s merger and acquisition strategy. With Airbnb being profitable on a GAAP basis and holding $11 billion in cash and liquid assets at the end of September, this could make the company a more attractive prospect for future acquisitions.

AI Developments in the Tech Industry

In related news, Airbnb’s acquisition comes amidst reports that Google is also investing in AI. Google is said to be in talks to invest hundreds of millions into an AI startup, Character.AI, that enables users to create virtual characters or chat with AI versions of famous personalities.