Airbnb

= using the Internet to help people rent out a room, or even a couch, to frugal travelers

History

"after receiving funding as well as mentoring from incubator Y Combinator in 2009, the startup exploded. Airbnb -- the name was originally Airbed and Breakfast in a reference to the use of airbeds for guests -- has listings in 16,000 cities around the world and has booked more than two million nights." (http://knowledge.wharton.upenn.edu/arabic/article.cfm?articleid=2714)

Discussion

"Airbnb recently received negative press when a few consumers went public with stories of their homes being robbed or damaged by renters found through the site. Airbnb responded with a new policy where it will cover loss or damage from guests up to $50,000. In an apology note posted to the company's blog on August 1, CEO Chesky also announced plans to start a 24-hour customer hotline to provide safety tips for guests and hosts and to let hosts set parameters for bookings that include verified phone numbers and location information." (http://knowledge.wharton.upenn.edu/arabic/article.cfm?articleid=2714)