As everyone awaits the new IPO Airbnb has announced it is creating a new host advisory board. The members of this board will be taken from the VIP host category and those members will be announced before the end of this year.
In all, there will be 15 members on this board whose membership will be diverse and include women hostesses as well as international hosts. Along with that creation, Airbnb will create a host endowment using roughly 9.2 million shares from the home-sharing platform.
Once the balance of that fund reaches $1 billion or more, the money will be shared by the 4 million host members. This money will be invested upon the advice of the advisory council and will reach into areas like education, financial resources, and other projects that CEO Brian Chesky hopes to keep Airbnb and its hosts fully supported.
He is proud of the hosts who are involved in Airbnb and calls his hosts resilient, very adaptable, and kind. Mr. Chesky is looking to keep hosts and hosting as the center of Airbnb and this endowment, as well as the advisory board, is rewarding them for their service over the years.
The board will meet once a month to discuss how the money will be invested as well as share the updates that come with each meeting. In a separate move, Airbnb will be splitting its shares in order to lower the new stock prices that will hit the NASDAQ very soon.