Connect with us

Published

on

Mateusz Slodkowski | Lightrocket | Getty Images

Airbnb launched a redesigned app on Tuesday to showcase the company’s push to let travelers book services, like catering and personal training, at their home rentals.

The new-look app marks a new chapter for Airbnb to expand beyond home stays. The company has previously announced plans to invest $200 million to $250 million in a new business that it said it hopes will become a significant driver of future revenue growth.

“We now feel like we have such a strong foundation that we are capable of building and expanding,” Dave Stephenson, Airbnb’s business chief, told CNBC.

The company has previously tried to push beyond home rentals, but dialed back those efforts in 2020 to focus on its core business as the Covid pandemic shuttered borders and pummeled the travel industry.

Airbnb shares fell earlier this month after the company issued disappointing revenue guidance in its first-quarter earnings report, saying it saw some “softness” in travel from Canada to the U.S. toward the end of the quarter amid macroeconomic uncertainties.

“Until now, our app has really done one thing, which is it lets you book a home,” CEO Brian Chesky said on Airbnb’s May 1 earnings call. “We rebuilt the app from the ground up on a new technology stack. And now we can innovate faster and offer much more than homes.”

The Airbnb services tab.

Courtesy: Airbnb

The app’s new services tab offers 10 categories users can select and book during their rental. The offerings include services such as spa treatments, catered or prepared meals, or personal training sessions. These service offerings will debut in 260 cities worldwide. The company hopes this update will put Airbnb on par with offerings travelers often find at hotels and resorts, Stephenson said.

To ensure quality, Airbnb has added to its vetting team, which includes legal professionals, to assess certifications and licensing requirements, which vary from city to city, Stephenson said. Services vendors have 10 years of experience on average, the company said.

The app update will also include a homepage tab to emphasize Airbnb’s experiences business. The new tab divides experiences into 19 categories, including live performances, landmark tours, architecture tours and workouts, which are available in 650 cities. The company first launched experiences in 2016.

The experience tab will include activities and tours designed by Airbnb, called originals, such as a tour of Notre Dame with a restoration architect in Paris. The company is also partnering to offer experiences and services at the 2026 Winter Olympics in Milan, Stephenson said.

Airbnb also said it is updating its social features, allowing users to see other guests attending experiences. The new messages section will also enable photo and video sharing and come with updated privacy features for interacting with co-travelers later this year.

Continue Reading

Technology

Stablecoin issuer Circle applies for a national bank charter

Published

on

By

Stablecoin issuer Circle applies for a national bank charter

Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group’s IPO, in New York City, U.S., June 5, 2025.

Brendan McDermid | Reuters

Stablecoin issuer Circle Internet Group has applied for a national trust bank charter, moving forward on its mission to bring stablecoins into the traditional financial world after the firm’s big market debut this month, CNBC confirmed.

Shares rose 1% after hours.

If the Office of the Comptroller of the Currency grants the bank charter, Circle will establish the First National Digital Currency Bank, N.A. Under the charter, Circle, which issues the USDC stablecoin, will also be able to offer custody services in the future to institutional clients for assets, which could include representations of stocks and bonds on a blockchain network.

Reuters first reported on Circle’s bank charter application.

There are no plans to change the management of Circle’s USDC reserves, which are currently held with other major banks.

Anchorage Digital is the only other crypto company to obtain such a license.

Circle’s move comes after a wildly successful IPO and debut trading month on the public markets. Shares of the company are up 484% in June. The company is also benefiting from a wave of optimism after the Senate’s passage of the GENIUS Act, which would give the U.S. a regulatory framework for stablecoins.

Having a federally regulated trust charter would also help Circle meet requirements under the GENIUS Act.

“Establishing a national digital currency trust bank of this kind marks a significant milestone in our goal to build an internet financial system that is transparent, efficient and accessible,” Circle CEO Jeremy Allaire said in a statement shared with CNBC. “By applying for a national trust charter, Circle is taking proactive steps to further strengthen our USDC infrastructure.”

“Further, we will align with emerging U.S. regulation for the issuance and operation of dollar-denominated payment stablecoins, which we believe can enhance the reach and resilience of the U.S. dollar, and support the development of crucial, market neutral infrastructure for the world’s leading institutions to build on,” he said.

Don’t miss these cryptocurrency insights from CNBC Pro:

Continue Reading

Technology

Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

Published

on

By

Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Meta Connect event on Wednesday, Sept. 25, 2024.

Bloomberg | Bloomberg | Getty Images


Meta shares hit a record high on Monday, underscoring investor interest in the company’s new AI superintelligence group.

The company’s shares reached $747.90 during midday trading, topping Meta’s previous stock market record in February when it began laying off the 5% of its workforce that it deemed “low performers.”

Meta joins Microsoft and Nvidia among tech megacaps that have reached new highs of late, all closing at records Monday. Apple, Amazon, Alphabet and Tesla remain below their all-time highs reached late last year or early this year.

Meta CEO Mark Zuckerberg has been on an AI hiring blitz amid fierce competition with rivals such as OpenAI and Google parent Alphabet. Earlier in June, Meta said it would hire Scale AI CEO Alexandr Wang and some of his colleagues as part of a $14.3 billion investment into the executive’s data labeling and annotation startup.

The social media company also hired Nat Friedman and his business partner, Daniel Gross, the chief of Safe Superintelligence, an AI startup with a valuation of $32 billion, CNBC reported on June 19. Meta’s attempts to buy Safe Superintelligence were rebuffed by the startup’s founder and AI expert Ilya Sutskever, the report noted.

Wang and Friedman are the leaders of Meta’s new Superintelligence Labs, tasked with overseeing the company’s artificial intelligence foundation models, projects and research, a person familiar with the matter told CNBC. The term superintelligence refers to technology that exceeds human capability.

Bloomberg News first reported about the new superintelligence unit.

Meta has also snatched AI researchers from OpenAI. Sam Altman, OpenAI’s CEO, said during a podcast that Meta was offering signing bonuses as high as $100 million.

Andrew Bosworth, Meta’s technology chief, spoke about the social media company’s AI hiring spree during a June 20 interview with CNBC’s “Closing Bell Overtime,” saying that the talent market is “really incredible and kind of unprecedented in my 20-year career as a technology executive.”

WATCH: Meta’s AI talent spending spree

Meta escalated talent war with OpenAI

Continue Reading

Technology

Joby Aviation stock pops 12% after delivering first flying taxi to UAE

Published

on

By

Joby Aviation stock pops 12% after delivering first flying taxi to UAE

An electric air taxi by Joby Aviation flies near the Downtown Manhattan Heliport in Manhattan, New York City, U.S., November 12, 2023. 

Roselle Chen | Reuters

Joby Aviation stock soared about 12% as the flying air taxi maker got closer to launching a service in the United Arab Emirates.

The electric vertical takeoff and landing, or eVTOL, company said Monday that it delivered its first aircraft to the UAE and has completed piloted flight tests as it readies for a 2026 launch in the region.

“Our flights and operational footprint in Dubai are a monumental step toward weaving air taxi services into the fabric of daily life worldwide,” said founder and CEO JoeBen Bevirt in a release. He called the Middle East nation a “launchpad for a global revolution in how we move.”

Joby’s planned launch in the UAE was announced in February 2024 as part of an agreement with Dubai’s Road and Transport Authority. The deal included exclusive rights to conduct air taxi service in Dubai for six years.

Read more CNBC tech news

As part of the project, Joby said in November that it began building one vertiport at Dubai International Airport, with three additional locations slated for Palm Jumeirah and Dubai’s downtown and marina. Joby also announced an air taxi agreement with three Abu Dhabi government departments in 2024.

The California-based company has made other expansion moves in the Middle East. Shares jumped earlier this month after Saudi Arabian firm Abdul Latif Jameel announced a roughly $1 billion investment for up to 300 eVTOLs. The firm participated in Joby’s Series C funding round.

Joby shares have surged more than 32% this year, swelling its market capitalization to over $9 billion.

Demand for air taxis, which take off and land similar to helicopters, has gained momentum in recent years. The service faces regulatory and safety hurdles but has been lauded for its ability to cut traffic congestion and slash emissions.

Earlier this month, President Donald Trump signed an executive order that included a pilot program for testing electric air taxis.

WATCH: Joby Aviation shares pop on Saudi Investment

Joby Aviation shares pop on Saudi Investment

Continue Reading

Trending