Successful new companies generate new business opportunities, as other companies emerge in their wake to support them and find their own profits, and Airbnb is no different. As more and more consumers are renting their properties on Airbnb — and some are doing so full-time as their own business — a spate of companies have formed to help Airbnb renters become mini real estate agents.
Airdna is one such offering. It combs Airbnb data to give people information on average Airbnb prices in their neighborhood, as well as analytics like most popular amenities offered in your area and the effects of using Airbnb’s Instant Book feature.
Based in Santa Monica, the product is built and marketed by a father-son team. Airdna started out as an e-book written by the son, Scott Shatford. It offered directions and advice to those looking to rent Airbnb apartments full-time. Shatford soon realized that Airbnb’s wealth of data, once organized, would be its own business opportunity. He calls it the “Wild, Wild West.”
“We’re making this leap of faith that people really want to get smart and data-driven about Airbnb,” Shatford told me.
Airdna is a freemium product, and you can access basic information — such as what can you expect to make in your city based on the size of your place — for free. The more detailed report of your area costs $30.
Airdna faces some stiff competition. A few other companies have cropped up with similar offerings. Beyond Pricing is one such product, and its slick beautiful design puts Airdna’s early 2000s look to shame. Airenvy is another competitor in the field, although it’s a little different. It manages your property for a fee, using a price fixing algorithm to determine the best price for the season, market availability, and area.
These are the kinds of companies that will help the nascent apartment sharing industry mature and reach a mainstream population. But their businesses are probably at the mercy of Airbnb’s whims; Airbnb offers a rudimentary room recommendation price already for its hosts (albeit not one sophisticated enough to consider seasonal or day-to-day demand changes).
If Airbnb wanted to kill these counterpart companies by producing its own data analytics, it could at any time. We’ve seen it happen before, whether it’s Twitter killing off Twitpic by introducing its own photo upload feature or Facebook rolling out a music player to compete with iLike.