Airbnb is continuing to target the millennial traveler set by reaching an agreement with Acorns, which makes an app that enables users to invest small amounts of money with asset managers from companies such as Vanguard and BlackRock.
Airbnb is participating in Acorns' Found Money program, which is similar to a credit card company's cash-back program but invests the money instead. The program was launched in May with retail partners such as last-minute lodging-booking service HotelTonight.
Under the Airbnb program, hosts can have their booking revenue invested through Acorns, which is offering a $50 investment deposit for each host's first booking after joining the program. Additionally, Airbnb guests will get 15% of the guest-service fee that would've been paid to Airbnb invested into their own accounts.
Irvine, Calif.-based Acorns was founded in 2012.