Airbnb sign $500m deal to support Olympics until 2028

Airbnb has signed $500m deal to join an elite corporate list including Coca Cola, Alibaba, Toyota, supporting the Olympic Games until 2028.

The deal covers five Olympic games including next year’s games in Tokyo and subsequent Winter an summer games in Beijing, Paris, Milan and Los Angeles.

The five cities are among the Us Accommodation-booking platform’s biggest market for private property rentals worldwide.

This time Airbnb executives decided that the Olympics offered rare reach for a company that operates in the majority of the countries and big cities across the world.

The move is designed to promote Airbnb’s brand to new hosts and customers as it prepares for an initial public offering next year.

The company which was founded in 2008, has about $3.5bn cash which provided financial power for the Olympic deal.