Airbnb Makes A British Acquisition And The Timing Couldn't Be Better

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Photo: The Associated Press

Airbnb has acquired British competitor Crashpadder for an undisclosed amount of money, reports The Next Web.Both companies operate in a similar fashion, connecting people who need a short-term living space to those who are offering it, in effect making anyone a landlord.

The timing behind the acquisition is especially advantageous as the London Olympics approach.

Airbnb CEO Brian Chesky said, “We knew that London was going to be a major focus for us in 2012 with the Olympics on the horizon. Now, with the addition of the Crashpadder community we are making huge strides to ensure that thousands of Olympic visitors will have a unique and local experience as Londoners open their door to the world during the games and beyond.”

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