Plus, shares of sports-betting platform DraftKings hit a three-year high. And, Chinese e-commerce companies like Shein and Temu try to bypass Trump to keep selling to Americans. Julie Chang hosts.
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[00:00:31] Here's your TNB Tech Minute for Friday, February 14. I'm Julie Chang for The Wall Street Journal. Airbnb is looking to expand beyond vacation rentals. The company plans to launch new businesses that it says will eventually bring in $1 billion in revenue. That includes experiences that can enhance users' stay, like tours led by locals. CEO Brian Chesky said he aims to eventually partner with more
[00:00:57] companies such as grocery stores and cleaning services. Airbnb is planning to invest $200 to $250 million this year to grow those businesses. Shares of sports betting platform DraftKings finished the week at a three-year high after the company raised its revenue outlook for the year. DraftKings also reported it's making more money off bets on the platform. The company is now guiding for $6.3 to $6.6 billion in
[00:01:25] revenue this year, $50 million more than the midpoint in its previous guidance. The new outlook doesn't factor in this year's Super Bowl during which DraftKings saw a record $436 million in bets placed. And Chinese e-commerce companies such as Xi'an and Temu are resorting to workarounds to keep selling to Americans. Last week, President Trump paused a trade exemption for imports from China that lets
[00:01:51] platforms avoid customs inspections and paying import duties on low-value packages. The suspension caused millions of packages to get stuck at U.S. customs. To keep selling to Americans, we report that Xi'an has increased efforts to encourage suppliers to set up production in Vietnam. The company denies that. Meanwhile, Temu raised prices on its website and further pushed suppliers to store inventory in the U.S. Temu, which is based in Boston and backed by Chinese e-commerce company PDD Holdings,
[00:02:19] didn't respond to requests for comment. Also, a quick programming note, we'll be off on Monday for the President's Day holiday, but we'll be back on Tuesday with a new episode of the Tech News Briefing podcast.