Local governments in Virginia claim that Airbnb has been violating state law by refusing to provide basic tax information for over a year.
Airbnb Digs Deeper Into the Affordable Housing Issue
19.01.2024 - 03:35 / skift.com / Taylor Swift / Paris Olympics / Dennis Schaal / Peden Doma Bhutia / Srividya Kalyanaraman
Happy Thursday, folks! Hope you’re having a great week so far. Has it been as busy for you as it’s been for us? Today our lead item comes all the way from the Middle East. Asia Editor Peden Doma Bhutia brings funding news, linking the UAE and San Francisco. Also on the agenda today is Airbnb’s new housing council – Executive Editor Dennis Schaal has the deets.
Alright, let’s go:
Silkhaus, a short-term rental platform based in the United Arab Emirates, has secured a “multi-million” dollar pre-series A financing from San Francisco venture firm Partners for Growth.
The Middle East’s short-term rental market is poised for growth, driven by the region’s tourism goals and regulatory frameworks supporting the holiday home rental process. The UAE’s regulatory changes align with its goal of hosting 40 million tourists by 2030 and contributing $123 billion to the national GDP, writes Skift’s Peden Doma Bhutia.
UAE’s Silkhaus Raises ‘Multi-Million’ Dollar Funding for Short-Term Rentals Expansion
It looks like Airbnb is responding to all the flack it has been subject to over the years regarding its impact on affordable housing. Airbnb has established the Airbnb Housing Council to address regulatory challenges and prevent a recurrence of situations like the de facto ban on short-term rentals in New York City, Dennis Schaal writes.
Here are the details:
Airbnb Establishes Housing Council to Bolster Short-Term Rentals as Regulators Bear Down
Overmoon, a tech-enabled vacation rental platform, has secured $80 million in debt and equity funding as it emerges from stealth mode. Founded in 2021 by Joe Fraiman, previously associated with the Airbnb-backed startup Lyric, Overmoon is launching Overmoon Exchange in collaboration with Flock Homes. This fintech-enabled program, offers vacation home owners benefits such as tax advantages, time savings, and investment perks into their 721 Fund, which lets an investor easily pass their investment on to their heirs. Overmoon facilitates 721 Exchanges with hundreds of owners seeking retirement.
The funding breakdown includes $10 million for technology development, $30 million in real estate equity for home down payments, and $40 million in debt financing. Backed by investment firms like NFX, Khosla Ventures, Camber Creek, and Sunsar Capital, Overmoon aims to blend hotel comforts with the communal spaces of vacation homes.
Vacation Rental Platform Overmoon Debuts With $80 Million
News
UAE’s Silkhaus Raises ‘Multi-Million’ Dollar Funding for Short-Term Rentals Expansion
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