Airbnb goes all-in for China push, changes local name to 'Aibiying'

Airbnb is determined to succeed in China, and a local company name change may just be the way to go. The U.S. home-sharing firm changed its name to "Aibiying" in China, which translates "welcome each other will love." The company intends to further grow in China after doubling listings in the country to about 80,000 in 2016. The home-sharing giant is now offering its Airbnb Trips service in Shanghai, where customers can book concert tickets and restaurant reservations. Since the company's launch in 2008, it has raised more than $3 billion.