Jan 24, 2017

Airbnb might buy a payments startup on the cheap

OpenGrid Scheduler GridEngine / Flickr Creative Commons

Airbnb is looking to boost its payments team by acquiring crowdfunding service Tilt, according to The Information. Tilt also has an app that competes with Venmo, which lets users send and receive payments from others.

Why it makes sense: Adding new payment options is critical to Airbnb being able to operate in a new country. The variety of payments it accepts globally ranges from credit cards to Boleto, a system in Brazil that lets customers without a credit card print out a slip with a bar code and bring it to a bank or convenience store to pay.

  • Tilt's expertise in peer-to-peer payments also could help with some of Airbnb's new features. For example, it recently added the ability for hosts to enlist the help of another to help them with guests, for which Airbnb takes care of splitting and paying both hosts.
  • It can also help with groups of guests staying in a single house who need to split the bill.

The deal: Airbnb reportedly would pay between $10 million and $20 million for Tilt—a far cry from its $400 million valuation, and even less than the $62 million it raised from investors like Andreessen Horowitz (who lead on the deal, Jeff Jordan, also backed Airbnb).

Not the first one: Last year, Airbnb's payments team hired much of the team behind ChangeTip, a service for sending Bitcoin.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 a.m. ET: 664,695 — Total deaths: 30,847 — Total recoveries: 140,156.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 1 a.m. ET: 124,464 — Total deaths: 2,191 — Total recoveries: 1,095.
  3. Federal government latest: President Trump announces new travel advisories for New York, New Jersey and Connecticut, but rules out quarantine enforcement. Per the CDC, residents of those states must now "refrain from non-essential domestic travel for 14 days," with the exception of critical infrastructure industry workers.
  4. State updates: Alaska is latest state to issue a stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month and has moved its presidential primary to June 23. Some Midwestern swing voters who backed Trump's handling of the virus less than two weeks ago are balking at his call for the U.S. to be "opened up" by Easter.
  5. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  6. 🚀 Space updates: OneWeb filed for bankruptcy amid the novel coronavirus pandemic.
  7. Hollywood: Tom Hanks and Rita Wilson have returned to U.S. after being treated for coronavirus.
  8. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Coronavirus updates: Global death toll tops 30,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

The novel coronavirus has now killed more than 30,000 people around the world — with Italy reporting over 10,000 deaths, per Johns Hopkins data.

The big picture: The number of deaths from COVID-19 in the U.S. surpassed 2,000 on Saturday. The United States leads the world in confirmed coronavirus infections — more than 124,000 by late Saturday. The number of those recovered from the virus in the U.S. passed the 1,000-mark on Saturday evening.

Go deeperArrowUpdated 2 hours ago - Health

Trump rules out quarantine in New York, New Jersey, Connecticut after pushback

President Trump on the White House grounds on Saturdya. Photo: Sarah Silbiger/Getty Images

President Trump tweeted Saturday night that he's decided not to introduce quarantine enforcement measures fo New York, New Jersey and parts of Connecticut, but a "strong" travel advisory will be issued for those states. The CDC later announced domestic travel restrictions for the states.

Why it matters: Trump said hours earlier he was considering quarantine measures to combat the rise in novel coronavirus cases. But he received pushback, notably from New York Gov. Andrew Cuomo (D), who told CNN such a measure would cause "chaos." "This would be a federal declaration of war on states," Cuomo added.

Go deeperArrowUpdated 4 hours ago - Health