Airbnb nonprofit gala marks new revenue donation initiative for housing
Airbnb held its inaugural nonprofit gala in Los Angeles on Wednesday to announce a new funding initiative.
New revenue sharing begins October 28
Starting from the day of the event, Airbnb will donate a portion of commercial revenue from each stay booked. The company stated this cut amounts to 10 cents per booking. This initiative is designed to generate $500 million for the nonprofit over the next five years.
Funding targets one million housing nights
The raised funds will help provide free housing for one million nights each year. The program aims to assist families impacted by crisis or disaster. Airbnb also plans to expand support to victims of domestic violence and veterans in need.
Fundraising was not the evening focus
A spokesperson noted that fundraising was not the focus of the evening. The company did not set a specific fundraising target for the night. Details regarding ticket prices for supporters were not disclosed by the organization.
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