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Airbnb joins social media platforms in their stand to keep peaceINTL

Airbnb joins social media platforms in their stand to keep peace

Were you planning a DC visit any time soon? Unfortunately, if that involved an Airbnb booking, you’d be left stranded at the moment!

Amidst concerns over renewed violence following the attack on the US Capitol, Airbnb (ABNB) announced that it will block and cancel all reservations in the Washington DC area during the week of the presidential inauguration.

The company declined to say how many reservations were canceled but confirmed that guests who lost their reservations will be refunded and hosts reimbursed in full.

Yesterday, the rental site stock shot up 5.7% to a record high, eclipsing a market value of USD 100b for the first time since its IPO.

why it matters
While there’s been a lot of talk about how social media companies have banned Trump accounts recently, Airbnb’s stand reflects how President Trump's actions have further implications in the tangible world.