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Every year the World Economic Forum celebrates a number of companies based on their innovation and vision in the fields of health, environment, information technology, and new media. The chosen companies highlight growing global trends and and industry shifts.

This year Airbnb and the sharing economy received an individual shootout. Airbnb was selected as one of 36 companies included in the World Economic Forum’s Technology Pioneers 2014.

Candidates are submitted every year by WEF Members, contributors, and the public.

A selection committee that includes CEO of Yahoo Marissa Mayer and  President and Editor-in-Chief of Huffington Post Arianna Huffington then vets all candidates based on innovation, potential for long-term impact and sustainable growth, visionary leadership, and execution.

WEF uses Airbnb to represent the sharing economy, which it describes as a “potentially revolutionary trend.”

The “sharing economy” is another potentially revolutionary trend: from broadband connections to do-it-yourself equipment to their own time and skills, many people own things they don’t use all the time. The Internet is making it possible to monetize such spare capacity. This trend is represented this year by Airbnb, which is transforming the travel sector by enabling people to rent out rooms in their homes or entire properties.

According to the World Economic Forum’s interview with Airbnb co-founder Nathan Blecharczyk, approximately 140,000 people stay in Airbnb accommodations every night.

Previous Technology Pioneers include Twitter, Kickstarter, and Google.

The full report on Technology Pioneers 2014 is below. 

Download (PDF, 2.64MB)

Tags: airbnb
Photo Credit: An Airbnb pen at a Budapest launch party. Airbnb Community / Flickr