Airbnb Agrees to Pay S.F. Hotel Taxes

Airbnb, the fast-growing website in San Francisco that lets people rent out their homes or rooms to travelers, took a giant step toward legitimizing itself by agreeing to pay the city's 14 percent hotel tax by the summer. The move could potentially add millions to city coffers and help Airbnb avoid conflict with regulators, especially if the company, reportedly valued at $10 billion, seeks to go public.