Mayor Lee Announces Major Expansion of Sharing Economy Leader Airbnb

Company Signs 169,000 Square Foot Lease in Showplace Square with Capacity for more than 1,000 New Jobs

5/2/12–Today Mayor Edwin M. Lee and Airbnb CEO Brian Chesky announced that Airbnb has signed a 169,000 square foot lease at 888 Brannan Street in Showplace Square. Airbnb’s lease will allow their company to grow from their current 125 employees to more than 1,000 staff. The ten year lease will quadruple Airbnb’s square footage and allow for an eight fold increase in jobs as they continue to grow in San Francisco.

“San Francisco is at the forefront of the sharing economy and companies like Airbnb are creating real jobs for San Franciscans,” said Mayor Lee. “The sharing economy was born here, and I am committed to ensuring that San Francisco supports this emerging sector’s growth and success. Congratulations to Airbnb on their new Showplace Square home joining the growing innovation hub in the neighborhood.”

“The entrepreneurial spirit of San Francisco is what inspired us to create Airbnb, and the Mayor’s commitment to the sharing economy made us decide to strengthen our roots here,” said Airbnb CEO and Co-Founder Brian Chesky. “This lease not only signifies a 10-year commitment to San Francisco, but also to this neighborhood, where we want to be a great neighbor to the local community. We hope to create an inspirational space that brings people together and promotes the sharing of ideas.”

In April 2012, Mayor Lee formed the nations first Sharing Economy Working Group, bringing together City departments, neighborhood and community stake holders and sharing economy companies. The first working group discussions will focus on how to better support parking and car sharing while discussions between policy makers on the appropriate level of taxation and regulation of both short term vacation rentals and year round rentals are ongoing.

Today’s announcement solidifies Showplace Square as a hub for technology companies. Airbnb will join technology leaders including Adobe Systems, Advent Software, Dolby, Eventbrite, Flixter, Jawbone, Sega and Zynga in the neighborhood.

About Airbnb
Founded in 2008 and based in San Francisco, Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world – online or from a mobile phone. Whether an apartment for a night, a castle for a week, or a villa for a month, Airbnb connects people to unique travel experiences, at any price point, in more than 19,000 cities and 192 countries. And with world-class customer service and a growing community of users, Airbnb is the easiest way for people to monetize their extra space and showcase it to an audience of millions.