December 25, 2024

In this photo illustration, a key is seen in front of a computer screen displaying the Airbnb logo on November 22, 2023 in Ankara, Turkey.

Dilara Irem Sanjar | Anatolia | Getty Images

As Airbnb’s recently appointed chief commercial officer, Dave Stephenson plays a crucial role in the company’s future growth plans.

He also took on another role that was critical to that growth: Airbnb host.

Stephenson served as AirbnbHe has served as chief financial officer since joining the company from Amazon in 2019 and has owned a mountain cabin outside Seattle, Washington, for the past few years. While those who live in his cabin may not know his role in the company, Stephenson’s approach is indicative of his vision for Airbnb.

Stephenson, an avid skier and hiker, is quick to share details on the best trails with guests. The cabin is equipped with a pizza oven, and Stephenson also shares his pizza dough recipes with guests, as well as coffee shop recommendations and anything else they might need.

“I like to share with others the places that are important to me,” he said. “I think they appreciate the local knowledge and how much I care, and it feels good to be a guest and think, ‘Wow, this host really cares about me and this experience.'”

Airbnb CEO and co-founder Brian Chesky told employees in a memo that Stephenson’s transition to the new CBO role at the beginning of this year marked an “inflection point” for the company and marked an The company will focus on the growth of existing and new businesses.

“As we move beyond our core business, it is critical to have an executive committed to our long-term growth plans, and no one is better suited to do that than Dave,” Chesky wrote in the memo.

For Stephenson, these long-term growth plans focus on three key areas: driving international expansion, increasing the number of hosts on the platform, and creating additional experiences and services.

International expansion is crucial for Airbnb, and Stephenson spends a lot of time helping make it happen, whether in Germany, South Korea or Brazil. Part of that, he said, is making sure “all functions work well together to deliver our desired results,” whether that means country-specific marketing plans will resonate or if there are other specific The local aspects need to be considered. In Germany, for example, there is a local certification that makes consumers feel more comfortable, and the company made sure to get that certification, Stephenson said. It also has Weissenstein Palace – an 18th-century castle in Bavaria that appears in the Netflix series The Queen – available for exclusive accommodation on Airbnb.

“It’s just making sure that we’re being very careful about our image as a country,” he said.

In terms of experience, Stephenson offers his guests a lot in Washington: a reason to come back, not just to that hotel but to the Airbnb.

“We will continue to focus on the unique things we can do to improve the guest experience,” he said.

Airbnb is also looking to expand its services to make it easier for both hosts and guests. This may include helping hosts check in or assisting them in obtaining items needed by their guests, such as linens. For guests, he said, this could be transportation to the airport or even a refrigerator on arrival.

“The deeper relationships we build with our guests and hosts, the better we understand what their needs are, and then we can better meet their needs,” he said. “The more satisfied they are, the better the experience for both parties, the more likely the host will stay with Airbnb, and the more likely the guest will want to come back and try Airbnb in another location.”

Link financial and business results

When Stephenson joined Airbnb as chief financial officer in 2019, he said one of the things he tried to bring to the company was “a more operationally disciplined financial organization.”

In many ways, he said, that means operating like a chief operating officer. “As CFOs, we think about business metrics, customer metrics, revenue metrics; all of those things, how we actually run the business is just as important as the financial health.”

The role of the chief financial officer has expanded far beyond the traditional finance function to include a focus on operations, supply chain and, increasingly, cybersecurity. Airbnb’s Stephenson did take on additional responsibilities as financial officer, and he was also named head of employee experience in 2021, overseeing talent and leadership development as well as recruiting and compensation.

Stephenson took over the new role of CFO at the beginning of this year, and Ellie Mertz, Airbnb’s former vice president of finance, succeeded him after the company’s quarterly earnings call in February.

“The financial industry has become a bit like Switzerland in terms of how it works and how it operates,” Stephenson said. “In a way, the chief commercial officer is an extension of that function, a neutral function that ensures All other functions work together effectively and work well.”

Correction: Dave Stephenson began serving as Airbnb’s chief financial officer in 2019.

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