Airbnb co-founder Gebbia steps back from full-time operating role

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FILE PHOTO: Joe Gebbia co-founder of Airbnb speaks during the first Obama Foundation Summit in Chicago

(Reuters) – Airbnb co-founder Joe Gebbia has decided to step back from his “full-time operating role” at the vacation rental firm to focus on his family and documentary filmmaking, he said in a note to employees on Thursday.

The company, founded in 2007 by Chief Executive Officer Brian Chesky, Nathan Blecharczyk and Gebbia, is now worth $69 billion in market value and has more than four million hosts renting out their properties across the globe on its platform.

Gebbia said he would continue serving on the board of Airbnb as well as non-profit Airbnb.org and also take on a new role as adviser.

He also said he would focus on a product complementary to Airbnb, but did not provide details.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber)

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