Anyone who doubts the enormity of the marketing budget for global short-lets firm Airbnb may have to think again - for it has entered into a deal with a team in one of the world’s most expensive sports, Formula One.
Airbnb branding will be displayed on the Manor Marussia team’s cars for the remaining 12 F1 races this season, as well as on the team’s promotional material and the race suits of drivers Roberto Merhi of Spain and Will Stevens of the UK.
Manor Marussia is the smallest team in the sport with what is believed to be the smallest annual budget - even so, this is believed to be some £60m.
The team’s management is led by former Sainsburys chief executive Justin King with some financial backing from energy company owner Stephen Fitzpatrick.
“Airbnb is a phenomenal success story of a company that has completely reinvented an industry. We are two likeminded brands who are committed to innovation and discovery and have ambitions to positively and proactively impact our respective industries” says Fitzpatrick.
Airbnb was founded in 2008 and is based in San Francisco, California. It claims to operate in more than 35,000 cities and 192 countries and says its activities create “the easiest way for people to monetize their extra space and showcase it to an audience of millions.”