Airbnb, a unique accommodations company that works by allowing users to put their houses up for vacationers who then pay a fee set by the house owners, is one of the most valuable unicorns to date. It is valued at about $25.5 billion dollars. Surprisingly, Airbnb has fewer than ten patents as of November 2015. For a company with such a large valuation, Airbnb might run into some long term trouble, especially if they consider an IPO, if they do not increase their IP portfolio.
In today’s world, having a patent on any sort of technology or device related to your market is crucial towards that company’s asset portfolio. Colossal companies such as Google and Apple have tens of thousands of patents, giving them a firm, almost monopolized grip on their market. Airbnb’s rental market has hundreds of small-time competitors, all of which are desperately searching for ways to outthink Airbnb’s business strategy. Three of their competitors, HomeAway, Wimdu and 9flats, are smaller startups that could easily find loopholes and mistakes in Airbnb’s strategy to capitalize on. It is for these reasons that I believe Airbnb needs to up their IP portfolio to include more protective and broader patent specifications.
The primary difference between the rentals housing market and other markets is that the final service or good is another person, rather than a company. In this case, the company serves as the middleman that combines needs with resources. As an IP strategy expert in this scenario, I would encourage Airbnb to hire and develop a branch within their firm that specifically aims to procure more types of patents that involving buying and selling of intellectual technology. This IP portfolio should be bolstered with patents that utilize the idea of being a middleman and using certain technologies, such as methods of rental payments and website design, to cut out competitors. Ultimately, I can see Airbnb develop even more potential and value if they decide to carry out these tedious but fundamental tasks.
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