Similar Stories to Airbnb’s Big Loss In Jersey City Could Have Huge Consequences For The Company Nationwide on Bing News

(Bloomberg) — The bitter, multi-million dollar battle over home-sharing in Jersey City has come to an end — with Airbnb Inc. losing the fight. Early results — which need to be officially certified by the local county clerk’s office — show about 70% of residents voted to restrict home-sharing companies. The blow comes as the $31 billion tech juggernaut, which is preparing to go public next year, strives to resolve regulatory overhang around the U.S. Jersey City, a four-minute train ride from Manhattan, has become crucial territory for Airbnb as a popular and affordable lodging alternative to New York.

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